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of <h1>Minimum Default for Pre-Packaged Insolvency Set at Rs. 10 Lakh Under IBC Section 4, 2021 Amendment.</h1> The Central Government has set ten lakh rupees as the minimum default amount for initiating the pre-packaged insolvency resolution process for corporate debtors under Chapter III-A of the Insolvency and Bankruptcy Code, 2016. This specification is made under the authority granted by the second proviso to section 4 of the Code, as amended by the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021. The notification was issued by the Ministry of Corporate Affairs on April 9, 2021.
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