Fast track corporate insolvency: eligibility limited to notified small companies, startups, and certain unlisted firms under the Code.

A fast track corporate insolvency resolution process is an expedited procedure governed by IBBI Fast Track Regulations and Chapter provisions; applications are permitted only for corporate debtors falling within Central Government notified eligibility categories (assets and income below notified levels, specified classes of creditors or amount of debt, or other notified categories). The Central Government notification identifies specified small companies, notified startups, and certain unlisted companies subject to asset and turnover thresholds and enumerated exclusions; courts have refused section 55 where a corporate debtor does not meet the notified categories or thresholds.

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