Chartered Accountants · Kolkata · Since 2007 +91 98305 33138gaurav@ggoenka.com

Acts

4. Application of this Part.

4. Application of this Part.

(1) This Part shall apply to matters relating to the insolvency and liquidation of corporate debtors where the minimum amount of the default is one lakh rupees:

Provided that the Central Government may, by notification, specify the minimum amount of default of higher value which shall not be more than one crore rupees.

1[Provided further that the Central Government may, by notification, specify such minimum amount of default of higher value, which shall not be more than one crore rupees, for matters relating to the prepackaged insolvency resolution process of corporate debtors under Chapter III-A.]

Note:

1. Inserted by The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021[This ordinance is replaced by The insolvency and Bankrupcy code (Amendment) Act, 2021 w.e.f 04.04.2021]

Reference copy from the firm’s resource library, saved on 26 October 2026. Laws, rates and notifications change — for the current position on your matter, please talk to us. Back to the Knowledge Bank.