Partial Payment pursuant to Section 8 Demand Notice: A Roadblock to Section 9 Insolvency Applications
The Insolvency and Bankruptcy Code, 2016 (IBC) has set a mandatory threshold limit for the initiation of the Corporate Insolvency Resolution Process (CIRP) under Section 9. An Operational Creditor can approach the National Company Law Tribunal (NCLT) only if the minimum default amount meets or exceeds INR 1 Crore, as per Section 4 of the […]