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Section 4

Application of this Part . — (1) This Part shall apply to matters relating to the insolvency and liquidation of corporate debtors where the minimum amount of the default is 1 [one crore rupees]:

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4. Application of this Part . — (1) This Part shall apply to matters relating to the insolvency and liquidation of corporate debtors where the minimum amount of the default is 1 [one crore 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 crore rupees.