Question
What is the minimum default amount for initiating CIRP
for MSMEs under the IBC?Solution
Under the IBC, the minimum default amount required to initiate the Corporate Insolvency Resolution Process (CIRP) is ₹1 crore. This ensures that the insolvency process is used for larger, more systemic defaults and excludes smaller defaults that may be better handled through other means.
According to Kelsen, in “..every country there is a hierarchy of legal norms, headed by what he calls as the 'Grundnorm’..”, here grundnorms is re...
Law of Limitation is based on the maxim-
The Central Information Commission under the RTI Act shall consist of ___________
A minor may be admitted to the benefit of a partnership firm :
What is the maximum wage period for payment of wages?
The mortgagor binds himself to repay the mortgage-money on a certain date, and transfers the mortgaged property absolutely to the mortgagee, but subject...
Code of Civil Procedure 1908 is a:
The transfer of an actionable claim shall be effected:
Temporary injunctions are to continue:
(a) Until a specified time
(b) Until the further order of the court
(c) Until death of one o...
Supremacy of Law is the first meaning of Rule of Law was established by?
