IBBI Registered National E-Governance Services Ltd as Information Utility

The Insolvency and Bankruptcy Board of India (IBBI) registered National E-Governance Services Limited (NeSL) as an Information Utility (IU) under the IBBI (Information Utilities) Regulations, 2017. With this NeSL has become the first IU registered by the IBBI and the registration is valid for five years from the date of registration.

Information Utility stores financial information that helps to establish defaults as well as verify claims expeditiously and facilitates completion of transactions under the Insolvency and Bankruptcy Code in a time-bound manner.

Important Takeaways from Above News-

  • Dr M. S. Sahoo is the chairperson if IBBI.
  • Insolvency and Bankruptcy Board of India was set up on 1st October 2016 under the Insolvency and Bankruptcy Code, 2016 (Code).
Source- AIR World Service

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