Law · Insolvency and Bankruptcy Code
What is the minimum default amount required to initiate the Corporate Insolvency Resolution Process (CIRP) for corporate debtors under the IBC?
- 1Rs. 10 lakh
- 2Rs. 50 lakh
- 3Rs. 50 crore
- 4Rs. 1 crore✓
Correct answer
Rs. 1 crore
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