Complaints against insolvency professional agency or its member or information utility Section 217: Complaints against insolvency professional agency or its member or information utility. 217. Any person aggrieved by the functioning of an insolvency professional agency or insolvency professional or an information utility may file a complaint to the Board in such form, within such … Read more
Rights and obligations of persons submitting financial information Section 216: Rights and obligations of persons submitting financial information. 216. *(1) A person who intends to update or modify or rectify errors in the financial information submitted under section 215, he may make an application to the information utility for such purpose stating reasons therefor, in … Read more
Procedure for submission, etc., of financial information Section 215: Procedure for submission, etc., of financial information. *215. (1) Any person who intends to submit financial information to the information utility or access the information from the information utility shall pay such fee and submit information in such form and manner as may be specified by … Read more
Obligations of information utility Section 214: Obligations of information utility. *214. For the purposes of providing core services to any person, every information utility shall— (a) create and store financial information in a universally accessible format; (b) accept electronic submissions of financial information from persons who are under obligations to submit financial information under sub-section … Read more
Core services, etc., of information utilities Section 213: Core services, etc., of information utilities. * 213. An information utility shall provide such services as may be specified including core services to any person if such person complies with the terms and conditions as may be specified by regulations.
Governing Board of information utility Section 212: Governing Board of information utility. *212. The Board may, for ensuring that an information utility takes into account the objectives sought to be achieved under this Code, require every information utility to set up a governing board, with such number of independent members, as may be specified by … Read more
Appeal to National Company Law Appellate Tribunal Section 211: Appeal to National Company Law Appellate Tribunal. *211. Any information utility which is aggrieved by the order of the Board made under section 210 may prefer an appeal to the National Company Law Appellate Tribunal in such form, within such period, and in such manner, as … Read more
Registration of information utility Section 210: Registration of information utility. *210. (1) Every application for registration shall be made to the Board in such form and manner, containing such particulars, and accompanied by such fee, as may be specified by regulations: Provided that every application received by the Board shall be acknowledged within seven days … Read more
No person to function as information utility without certificate of registration Section 209: No person to function as information utility without certificate of registration. *209. Save as otherwise provided in this Code, no person shall carry on its business as information utility under this Code without a certificate of registration issued in that behalf by … Read more
Functions and obligations of insolvency professionals Section 208: Functions and obligations of insolvency professionals. 208. (1) Where any insolvency resolution, fresh start, liquidation or bankruptcy process has been initiated, it shall be the function of an insolvency professional to take such actions as may be necessary, in the following matters, namely:— (a) a fresh start … Read more