Ease of Doing Business: Impact of Covid-19 Measures on Insolvency
By INSOL India - Editorial Team Posted On : June 01, 2020
1. Special insolvency resolution framework for MSMEs under Section 240A of the Code to be notified soon
2. Empowering Central Government to exclude COVID 19 related debt from the definition of “default” under the Code for the purpose of triggering insolvency proceedings
3. Minimum threshold to initiate insolvency proceedings raised to Rs. 1 crore (from Rs. 1 lakh, which largely insulates MSMEs).
4. Suspension of fresh initiation of insolvency proceedings up to one year depending upon the pandemic situation.
For more details please visit DownloadsAtma Nirbhar Bharat Full Presentation Part 5 17-5-2020 PRESS (1).pdf