Section – 4, Insolvency and Bankruptcy Code, 2016

[ Note : section 4  comes into force w.e.f 1st December 2016 vide notification no S.O. 3594(E) dated 30th November 2016 ]

PART II

INSOLVENCY RESOLUTION AND LIQUIDATION FOR CORPORATE PERSONS

CHAPTER I

PRELIMINARY

Application of this Part.

4. (1) This Part shall apply to matters relating to the insolvency and liquidation of corporate debtors where the minimum amount of the default is one lakh 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.