Regulation 20 - Acceptance and receipt of information - Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017

Acceptance and receipt of information 20. (1) An information utility shall accept information submitted by a user in Form C of the Schedule. 1 [ (1A) Before filing an application to initiate corporate insolvency resolution process under section 7 or 9, as the case may be, the creditor shall file the information of default, with the information utility and the information utility shall process the information for the purpose of issuing record of default in accordance with regulation 21. ] (2) On receipt of the information submitted under sub-regulation (1) 2 [ or sub-regulation (1A), as the case may be ] , the information utility shall- (a) assign a unique identifier to the information, including records of debt; (b) acknowledge its receipt, and notify the user of- (i) the unique identifier of the information; (ii) the terms and conditions of authentication and verification of information; and (iii) the manner in which the information may be accessed by other parties. ************* NOTES:- 1. Inserted vide Notification No. IBBI/2022-23/GN/REG085 dated 14-06-2022 2. Inserted vide Notification No. IBBI/2022-23/GN/REG085 dated 14-06-2022