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of <h1>Section 4 of Insolvency Code Amended; Govt Sets Minimum Default for Prepackaged Insolvency Process, Capped at One Crore Rupees.</h1> The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021, modifies section 4 of the Insolvency and Bankruptcy Code, 2016. It introduces a new proviso allowing the Central Government to specify a minimum default amount for initiating the prepackaged insolvency resolution process for corporate debtors. This specified amount cannot exceed one crore rupees.
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