valid as on 23/06/2019

IBC Section 216-Rights and obligations of persons submitting financial information.
Font in blue effective from 01.04.2017

(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 such manner and within such time, as may be specified.

(2) A person who submits financial information to an information utility shall not provide such information to any other person, except to such extent, under such circumstances, and in such manner,

Refer regulation 38 of Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017 . To view the regulation,Click Here

2.10.38:Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017.

38. Storing information submitted by insolvency professionals.

(1) An insolvency professional may submit reports, registers and minutes in respect of any insolvency resolution, liquidation or bankruptcy proceedings to an information utility for storage.

(2) The information utility shall not provide access to the reports, registers and minutes submitted under subregulation (1) to any person other than the concerned insolvency professional, the Board or the Adjudicating Authority.

(3) The information utility shall discharge the duties specified in Chapter VI in respect of the reports, registers and minutes submitted under sub-regulation (1).


IBC-Enforcement Notification [S.O.1005(E)] dated 30/03/2017


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