Do you know the minimum default to trigger insolvency proceedings is Rs. 1 crore, not Rs. 1 lakh?

Section 4 of the IBC states the threshold as Rs. 1 lakh, but a Central Government notification dated 24 March 2020 raised it to Rs. 1 crore - the statutory ceiling the proviso allows. A large volume of online content still cites the outdated Rs. 1 lakh figure, which can mislead an operational creditor into filing a claim that gets dismissed outright.