Minimum default threshold for pre-packaged insolvency can be specified by the Central Government, shaping pre-pack eligibility rules. The amendment inserts a proviso allowing the Central Government, by notification, to specify a minimum amount of default (subject to an upper limit) for ... Summary
Minimum default threshold for pre-packaged insolvency can be specified by the Central Government, shaping pre-pack eligibility rules.
The amendment inserts a proviso allowing the Central Government, by notification, to specify a minimum amount of default (subject to an upper limit) for matters relating to the pre-packaged insolvency resolution process for corporate debtors under Chapter III-A, thereby establishing a government specified threshold as an eligibility condition for the pre-pack regime.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.