Question

For initiating proceedings under IBC, what is the minimum amount of default?

A Rs.1 lakh Correct Answer Incorrect Answer
B Rs.10 lakh Correct Answer Incorrect Answer
C Rs.50 lakh Correct Answer Incorrect Answer
D Rs.75 lakh Correct Answer Incorrect Answer
E Rs.1 crore Correct Answer Incorrect Answer

Solution

In March 2020, the Central Government increased the minimum amount of default for the purposes of initiating insolvency process under IBC to Rs.1 crore from Rs.1 lakh crore

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