devendra katare ( nagpur )
24-Sep-2026 08:42 AM
CIRP CHAPTER NO 2 OF IBC CORE
sir my doubt is that if CD has defaulted of more than 1 cr and demand notice is served under sec 8 to cd and he repays 50 lakhs out of it so we will have to wait for another 50 lakh default to initiate cirp
Hello Devendra, I hope you are doing good in studies. Answer to your doubt: Yes, you will have to wait, or look for other legally valid defaults, because you cannot file a Section 9 application on the remaining ₹50 lakhs balance alone. Under Section 4 of the Insolvency and Bankruptcy Code (IBC), the minimum pecuniary threshold required to initiate CIRP is ₹1 Crore.
Answer given by Shubhamm Sir at 25-Sep-2026 01:56 PM