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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