https://www.taxtmi.com/highlights?id=65996 Initiation of CIRP - threshold limit for triggering CIRP - joint application - 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 Tue, 11 Oct 2022 10:18:39 +0530 Tue, 11 Oct 2022 10:18:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=65996 Initiation of CIRP - threshold limit for triggering CIRP - joint application - 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 Tue, 11 Oct 2022 10:18:39 +0530 https://www.taxtmi.com/highlights?id=65996