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MCA hikes threshold limit for default value from Rs.1 lakh to Rs.1 crore under IBC

March 25, 2020
Due to the emerging financial distress faced by most companies on account of the large scale economic distress caused by COVID 19,the threshold for default has been raised from Rs. 1 lakh to Rs. 1 cr to prevent triggering of insolvency proceeding against MSMEs.
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