Notification Raising IBC Threshold For CIRP Prospective In Nature : NCLT [Read Order]

The Chennai Bench of National Company Law Tribunal (NCLT) has held that the Central Government's decision to enhance the minimum threshold for the initiation of insolvency proceedings is prospective in nature. On March 24, 2020 the Centre issued a Notification under Section 4 of the Insolvency & Bankruptcy Code 2016 (IB Code), through which the minimum threshold for a petition to...