IBC Section 4-Application of this Part.
Effective from 01.12.2016
(1) This Part shall apply to matters relating to the insolvency and liquidation of corporate debtors where the minimum amount of the default is one lakh rupees:
In exercise of the powers conferred by the proviso to section 4 of the IB Code, 2016, the Central Government hereby specifies one crore rupees as the minimum amount of default for the purposes of the said section. To view the notification dated 24.03.2020,Click Here.