Initiation of CIRP - threshold limit for triggering CIRP - joint ...

Case Laws Insolvency and Bankruptcy

October 11, 2022

Initiation of CIRP - threshold limit for triggering CIRP - joint application - The statute i.e., Section 7 of the IBC as amended vide Gazette Notification dated 05.06.2020, admits no other interpretation except that a group of financial creditors can converge and join hands to touch the financial limit of Rs.1 crore stipulated under Section 7 so as to initiate a CIRP under the IBC. - HC

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Initiation of CIRP - threshold limit for triggering CIRP - joint ...

Case Laws Insolvency and Bankruptcy

October 11, 2022

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