55. (1) A corporate insolvency resolution process carried out in
accordance with this Chapter shall be called as fast track corporate
insolvency resolution process.
(2) An application for fast track corporate insolvency resolution process
may be made in respect of the following corporate debtors, namely:-
(a) a corporate debtor with assets and income below a level as may be
notified by the Central Government; or
(b) a corporate debtor with such class of creditors or such amount of debt
as may be notified by the Central Government; or
(c) such other category of corporate persons as may be notified by the
Central Government.