https://www.taxtmi.com/highlights?id=65284 Threshold limit for triggering CIRP - Validity of Section 7 of the Insolvency and Bankruptcy Code, 2016 - Initiation of CIRP by Financial Creditors - The statute i.e., Section 7 of the IBC as amended vide Gazette Notification dated 05.06.2020, admits no other interpretation except that a group of financial creditors can converge and join hands to touch the financial limit of Rs.1 crore stipulated under Section 7 so as to initiate a CIRP under the IBC. - HC en-us Fri, 26 Aug 2022 12:39:47 +0530 Fri, 26 Aug 2022 12:39:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=65284 Threshold limit for triggering CIRP - Validity of Section 7 of the Insolvency and Bankruptcy Code, 2016 - Initiation of CIRP by Financial Creditors - The statute i.e., Section 7 of the IBC as amended vide Gazette Notification dated 05.06.2020, admits no other interpretation except that a group of financial creditors can converge and join hands to touch the financial limit of Rs.1 crore stipulated under Section 7 so as to initiate a CIRP under the IBC. - HC Highlights Insolvency and Bankruptcy Fri, 26 Aug 2022 12:39:47 +0530 https://www.taxtmi.com/highlights?id=65284