[Breaking] IBC Threshold Raised As ₹ One Crore; Govt May Consider Suspending Sections 7, 9 & 10

In view of the lockdown due to COVID-19, the Finance Ministry on Tuesday announced special relief packages for companies under the Companies Act and the Insolvency and Bankruptcy Code.The existing threshold of Rupees one lakh for triggering insolvency is raised to Rupees one crore. The Ministry will also consider suspending Sections 7, 9, 10 of IBC for six months if the lockdown situation...