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      Question

      What is the minimum default amount for initiating CIRP

      for MSMEs under the IBC?
      A тВ╣1 lakh Correct Answer Incorrect Answer
      B тВ╣5 lakh Correct Answer Incorrect Answer
      C тВ╣10 lakh Correct Answer Incorrect Answer
      D тВ╣1 crore Correct Answer Incorrect Answer
      E тВ╣50 lakh Correct Answer Incorrect Answer

      Solution

      Under the IBC, the minimum default amount required to initiate the Corporate Insolvency Resolution Process (CIRP) is тВ╣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.

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