Debts of Firms Due to Covid-19 Won’t be Considered ‘Defaults’, Says FM Sitharaman in Relief to Companies

Minimum threshold to initiative insolvency proceeding has been raised to Rs 1 crore from Rs 1 lakh to benefit MSMEs, Sitharaman said, adding that an Ordinance will be promulgated to bring this change in IBC.

from Top Business News- News18.com