https://www.taxtmi.com/article/detailed?id=10768 A government notification raised the minimum default threshold for initiating corporate insolvency proceedings effective on its date; the notification governs defaults occurring on or after that date, though courts have differed on whether the statutory figure is replaced from that date. Joint applications by financial creditors may aggregate claims to meet the post notification threshold. Admitting authorities will dismiss applications that fail to establish the requisite aggregate unpaid debt, that do not reconcile part payments, or that are affected by suspension periods limiting initiation or interest claims. en-us Thu, 27 Oct 2022 09:01:43 +0530 Thu, 27 Oct 2022 09:01:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10768 A government notification raised the minimum default threshold for initiating corporate insolvency proceedings effective on its date; the notification governs defaults occurring on or after that date, though courts have differed on whether the statutory figure is replaced from that date. Joint applications by financial creditors may aggregate claims to meet the post notification threshold. Admitting authorities will dismiss applications that fail to establish the requisite aggregate unpaid debt, that do not reconcile part payments, or that are affected by suspension periods limiting initiation or interest claims. Articles Corporate Laws / IBC / SEBI Thu, 27 Oct 2022 09:01:43 +0530 https://www.taxtmi.com/article/detailed?id=10768