NOTIFICATION DATED 24th MARCH 2020 OF MINISTRY OF CORPORATE AFFAIRS ENHANCING THRESHOLD OF DEFAULT TO OPERATE PROSPECTIVELY
With the imposition of nationwide lockdown due to the COVID-19 pandemic, the central government felt that small to medium enterprises may not be able to meet the timelines for repayment of their loans thereby getting dragged in insolvency and resolution proceedings under the IBC. To address this concern the central government in exercise of powers…
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