What is the threshold limit for making an application for insolvency and liquidation of corporate persons ?

The provisions relating to the insolvency and liquidation of corporate debtors shall apply to matters relating to the insolvency and liquidation of corporate debtors where the minimum amount of the default is one crore rupees. Provided that the Central Government may, by notification, specify the minimum amount of default of higher value which shall not be more than one crore rupees. Provided further that the Central Government may, by notification, specify such minimum amount of default of higher value, which shall not be more than one crore rupees, for matters relating to the pre-packaged insolvency resolution process of corporate debtors under Chapter III-A. Note: Vide S.O.1205 (E), dated 24.03.2020 the Central Government specifies one crore rupees as the minimum amount of default. Additionally, vide Notification S.O. 1543(E), dated 09.04.2021, the Central Government has specified ten lakh rupees as the minimum amount of default for the matters relating to the pre-packaged insolvency resolution process of corporate debtor under Chapter III-A of the Code.