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The Central government has raised the threshold for invoking insolvency under IBC from 1 lakh to __________.
  • a)
    10 Lakh
  • b)
    1 Crore
  • c)
    25 Crore
  • d)
    50 Crore
  • e)
    5 Crore
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
The Central government has raised the threshold for invoking insolvenc...
Insolvency and Bankruptcy Code (IBC): The existing threshold of default hiked to Rs1 crore from Rs 1 Lakh under section 4 of the IBC 2016 to protect MSMEs (Micro, Small and Medium Enterprises).
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The Central government has raised the threshold for invoking insolvency under IBC from 1 lakh to __________.a)10 Lakhb)1 Crorec)25 Crored)50 Croree)5 CroreCorrect answer is option 'B'. Can you explain this answer?
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