Section 78. Application

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Act: Insolvency and Bankruptcy Code Act, 2016
Section number: 78

Section reader

Part III

Insolvency Resolution and Bankruptcy for Individuals and Partnership Firms

Chapter I

Preliminary

78. Application.-

This Part shall apply to matters relating to fresh start, insolvency and bankruptcy of individuals and partnership firms where the amount of the default is not less than one thousand 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 lakh rupees.