IBC creates a new-found institutional framework, entailing a regulator, insolvency specialists, information functions and adjudicatory mechanisms, that will facilitate a formal and time-bound insolvency resolution and liquidation process. We Conducting Insolvency or bankruptcy of companies and LLP. However, the process of insolvency and liquidation of corporate debtors under the IBC applies where the minimum default amount is Rs. 1 crore only.
