The IBC applies to all corporate debtors equally without exceptions. The IBC includes provisions that can and do exempt micro, small and medium enterprises from certain obligations.
The IBC does provide special exemptions to micro, small and medium enterprises. Specifically, it also empowers the Central Government to direct by way of a public notification that any of the provisions of the IBC shall not apply to micro, small and medium enterprises. Sec Section 240A(2) of the IBC.