Insolvency and Bankruptcy Code | The Learning Curve 

Minimum amount at least 1 lake

No, at least one lac.

You can file recovery suit in civil court

Naina Jaiswal IBC is a Law ,While NCLT is tribunal act as intermediary for all the proceedings

NCLT is an adjudicating athourtity

National Company Law Tribunal is set up under Companies Act. Its for all company law purposes, not only insolvency. In case of insolvency of Corporate Persons, (companies and limited liability partnerships), NCLT is the adjudicating authority (acting like a court)