Application of Corporate Insolvency Resolution process of the Insolvency & Bankruptcy Code 2016 [ Section 4 ]

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... whole or any part or installment of the amount of debt has become due and payable, and is not paid by the debtor or the CD, as the case may be. Threshold Limit for Default * Section 4 of the IBC provides that Part II of the IBC (which deals with the CIRP and liquidations) shall apply to matters relating to the insolvency and liquidation of CDs where the minimum amount of the default is Rs. 100....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ebtor under Chapter III-A of the Code. * Extension of Default time period [ Notification No. S.O. 4638(E), dated 22nd December, 2020 ] * The Central Government had notified further period of three months from the 25th December, 2020, for the purposes of the said section. * This Section was inserted on account of pandemic situation on account of COVID-19 all over India. The Notification also ....