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.
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Provisions expressly mentioned in the judgment/order text.
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.
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