(1) An information utility shall expeditiously undertake the process of authentication and verification of information of default as soon as it is received.

(2) For the purpose of sub-regulation (1), the information utility shall-
(a) deliver the information of default to the debtor seeking confirmation of the same within seven daysSubstituted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2024 dated 13.08.2024 effective 01.10.2024. To view the Notification, Click here  the time specified in the Technical Standards;
(b) remind the debtor at least three times for confirmation of information of default, in case the debtor does not respond, allow seven daysSubstituted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2024 dated 13.08.2024 effective 01.10.2024. To view the Notification, Click here  three days each time for the debtor to respond;
(c) deliver the information of default or the reminder, as the case may be, to the debtor either by hand, post or electronic means at the postal or e-mail address of the debtor-
(i) registered with the information utility by him, failing which,
(ii)IBBI approves MCA 21 database of the Ministry of Corporate Affairs and the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) registry as repositories for the purpose of regulation 21(2)(c)(ii) vide its Circular dated 07.09.2019. To view the Circular, Click Here. recorded with MCA 21 and the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) registry as repositories or any other statutory repository as approved by the Board, failing which,Substituted vide notification The Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2022 dated 14.06.2022 Click Here  recorded with any other statutory repository as approved by the Board, failing which,
(iii)Substituted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2024 dated 13.08.2024 effective 01.12.2024. To view the Notification, Click here.  submitted in Form C of the Schedule:such format as notified by the Board through circularSubstituted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2026 dated 01.06.2026. To view the notification, Click Here
(A) by a financial creditor, which is a bank included in the second schedule of the Reserve Bank of India Act, 1934;
(A)Substituted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2026 dated 01.06.2026. To view the notification, Click Here by a financial creditor, which is a financial institution as defined in clause (14) of section 3 of the Code

(B) by any other creditor, in respect of a debtor other than the corporate debtor as defined in section 3(8) of the Code. submitted in Form C of the Schedule.

(3)Substituted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2026 dated 01.06.2026. To view the notification, Click Here On completion of the process under sub-regulation (2), the information utility shall record the status of authentication of information of default as indicated in the table below:

Provided that in case of financial institution as defined in clause (14) of section 3 of the Code, when a debtor disputes a part of the default amount or such dispute is in respect of only non-financial information, then the information utility shall record the status of authentication as ‘authenticated’ in respect of the undisputed default amount.

(3) On completion of the process under sub-regulation (2), the information utility shall record the status of authentication of information of default as indicated in the following Tables: Substituted vide notification The Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2022 dated 14.06.2022 Click Here On completion of the process under sub-regulation (2), the information utility shall record the status of authentication of information of default as indicated in the Table below: 

TABLE-1

Provided that in case of financial creditors which are banks included in the second schedule of the Reserve Bank of India Act, 1934, the information utilities will record the status of authentication of information of default as indicated in the Table 2 below:

TABLE-2

Provided further thatSubstituted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2024 dated 13.08.2024 effective 01.12.2024. To view the Notification, Click here.  in case of financial creditors which are banks included in the second schedule of the Reserve Bank of India Act, 1934, when a debtor disputes a part of the default amount or such dispute is in respect of only non-financial information, then the information utility shall record the status of authentication as ‘authenticated’ in respect of the undisputed default amount.

Table

 (4) Substituted vide notification The Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2022 dated 14.06.2022 Click Here After recording the status of information of default under sub-regulation (3), the information utility shall communicate the status of authentication in physical or electronic form  of the relevant colour, as indicated in column (4) of the Tables 1 or 2, as the case may beOmitted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2026 dated 01.06.2026. To view the notification, Click Here  by issuing a record of default in Form D of the Schedule, a record of default or information of dispute in such format as notified by the Board through circular, as indicated in column (4) of the Table, above,Substituted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2026 dated 01.06.2026. To view the notification, Click Here  to the registered users who are-
(a) creditors of the debtor who has defaulted in payment of a debt;
(b) parties and sureties, if any, to the debt in respect of which the information of default has been received.

After recording the status of information of default under sub-regulation (3), the information utility shall communicate the status of authentication in physical or electronic form of the relevant colour, as indicated in column (4) of the Table thereof, to the registered users who are-

(a) creditors of the debtor who has defaulted;
(b) parties and sureties, if any, to the debt in respect of which the information of default has been received.”]

21A. Verification of information before issuance of a record of default.Inserted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2024 dated 13.08.2024. To view the Notification, Click here. 
21A. Verification of information before issuance of a record of default or information of disputeSubstituted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2026 dated 01.06.2026. To view the notification, Click Here

(1)Inserted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2024 dated 13.08.2024 effective 01.10.2024. To view the Notification, Click here.  An information utility shall verify the key details such as e-mail address of the debtor, document showing proof of debt, latest acknowledgment of debt by the debtor and proof of default before issuance of record of default in Form D of the Schedule  such format as notified by the Board through circularSubstituted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2026 dated 01.06.2026. To view the notification, Click Here  under regulation 21.

(2)Inserted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2024 dated 13.08.2024 effective 01.12.2024. To view the Notification, Click here.  In case a debtor disputes a part of default amount or entire default amount, such debtor shall provide the reasons for such dispute and upload the evidence for the same.

(3)Inserted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2024 dated 13.08.2024 effective 01.12.2024. To view the Notification, Click here.  In case of financial creditors which are banks included in the second schedule of the Reserve Bank of India Act, 1934,financial institutions as defined in clause (14) of section 3 of the CodeSubstituted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2026 dated 01.06.2026. To view the notification, Click Here  an information utility shall issue a record of default with the status of authentication as ‘disputed’ information of disputeSubstituted vide Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2026 dated 01.06.2026. To view the notification, Click Here for the default amount for which evidence of dispute has been received and verified, and issue a record of default with the status of authentication as ‘authenticated’ in respect of the balance default amount.”

An information utility shall disseminate every public announcement it receives or has access to, on the date of its receipt or access, as the case may be, to its registered users, who are creditors of the corporate debtor undergoing insolvency proceeding under the Code.