## Report on the Insolvency and Bankruptcy Board of India Information Utilities Amendment Regulations, 2021
**1. Executive Summary:**
This report analyzes the Insolvency and Bankruptcy Board of India (IBBI) Information Utilities Amendment Regulations, 2021 based on the official gazette notification dated April 13, 2021. The amendment focuses on enhancing the operational efficiency and data quality of Information Utilities (IUs) operating under the Insolvency and Bankruptcy Code (IBC), 2016. Key changes include the introduction of minimum service quality standards, mandatory updating of user information, and the requirement for IUs to publish statistical information on debt. These amendments aim to improve the transparency, reliability, and accessibility of debt-related information, ultimately strengthening the IBC framework.
**2. Introduction:**
The purpose of this report is to provide an informative overview and analysis of the Insolvency and Bankruptcy Board of India Information Utilities Amendment Regulations, 2021, based solely on the text of the official gazette notification. This report aims to dissect the key provisions, implications, and potential impact of these amendments for stakeholders within the insolvency and bankruptcy ecosystem.
**3. Policy Overview:**
* **Original Policy:** The amendment modifies the "Insolvency and Bankruptcy Board of India Information Utilities Regulations, 2017".
* **Core Objective(s):** Based on the text, the amendment's core objectives are to:
* Enhance service quality of Information Utilities.
* Improve the timeliness and accuracy of debt-related information.
* Increase transparency through the publication of statistical data.
**4. Background and Rationale:**
This amendment appears designed to address potential shortcomings in the operational efficiency and data dissemination practices of Information Utilities. The introduction of service quality standards suggests a need to formalize expectations around user registration, record of default issuance, and annual statement delivery. Requiring more frequent updates to information and mandating the publication of statistical data on debt indicates an effort to ensure that IUs provide more current, comprehensive, and accessible information to stakeholders.
**5. Key Provisions / Changes:**
The following specific changes are introduced by the amendment:
* **Regulation 15 (Sub-regulation 3):** This regulation within the original policy is amended.
* **New Provision:** Two new clauses, "ba" and "bb", are inserted after clause "b". Clause "ba" mandates minimum service quality standards, including timelines for user registration, issuance of record of default, and issuance of annual statements. Clause "bb" requires adoption of quality standards and quality standards certifications.
* **Effect:** This change introduces specific, measurable expectations for the performance of IUs, holding them accountable for timely and efficient service delivery. The adoption of quality standards and certifications should theoretically bring about greater levels of trust.
* **Regulation 27 (Sub-regulation 1):** This regulation within the original policy is amended.
* **New Provision:** Sub-regulation 1 is substituted with a new sub-regulation that mandates users submitting information in Form C to update this information as of the last day of every month, submitting the update in the first week of the following month. It provides an exception for defaults, which are to be updated within seven days of occurrence.
* **Effect:** This modification increases the frequency of information updates, moving from an unspecified timeframe to a monthly requirement. This ensures that the debt-related information held by IUs is more current and reflective of the actual financial position of debtors. The accelerated reporting for defaults aims for faster dissemination of important information related to potential insolvencies.
* **Regulation 36:** This regulation within the original policy is amended.
* **New Provision:** A new regulation, "36A. Publication of statistical information", is inserted after regulation 36. Subregulation 1 requires IUs to publish debt-related statistics quarterly. Subregulation 2 specifies the types of data to be included: currency, geography, sector, size, tenor, type, lending arrangement, and incidence of default.
* **Effect:** This change introduces a new level of transparency, forcing the IUs to share anonymized statistical data to benefit regulators, policymakers, and researchers. This will likely provide insights into debt patterns, default trends, and the overall health of the credit ecosystem.
* **Schedule (Form C):** This section of the original policy is amended.
* **New Provision:** Form C is entirely substituted by a new version. This form outlines the data points that need to be collected for debt, security, and default reporting.
* **Effect:** The revised Form C suggests a refinement in the type and granularity of data that IUs are required to collect. This could improve the usefulness of the data for various purposes, including risk assessment and insolvency resolution.
**6. Target Audience and Stakeholders:**
Based on the text, the directly affected parties are:
* **Information Utilities (IUs):** The amendment places new obligations on IUs regarding service quality, data updating, and statistical reporting.
* **Users of Information Utilities:** This includes debtors, creditors, guarantors, and other parties involved in debt transactions who submit data to and rely on IUs.
* **Insolvency and Bankruptcy Board of India (IBBI):** The regulatory body responsible for overseeing IUs and enforcing the regulations.
**7. Implementation Aspects (Inferred):**
* **Responsible agency:** The IBBI is the responsible regulatory body.
* **Timelines:**
* The regulations come into force on the date of their publication in the Official Gazette (April 13, 2021).
* Users must update Form C information monthly.
* Default information must be updated within seven days of occurrence.
* IUs must publish statistical information quarterly.
* **Procedures:**
* IUs will need to establish mechanisms to comply with the minimum service quality standards.
* IUs will need to modify their systems to facilitate monthly data updates from users.
* IUs will need to develop processes for collecting and publishing the required statistical data.
**8. Expected Outcomes / Impact of Changes:**
The intended outcomes of these amendments are likely to be:
* **Improved Service Quality:** The minimum service quality standards will force IUs to enhance their user registration processes, default record issuance, and annual statement delivery.
* **More Accurate and Timely Information:** The monthly data update requirement will increase the accuracy and currency of debt-related information held by IUs.
* **Increased Transparency:** The publication of statistical data will provide valuable insights into debt patterns and default trends.
* **Enhanced IBC Framework:** By improving the quality and accessibility of debt-related information, the amendments will strengthen the overall effectiveness of the Insolvency and Bankruptcy Code.
**9. Conclusion:**
The Insolvency and Bankruptcy Board of India Information Utilities Amendment Regulations, 2021 represent a significant step towards enhancing the operational efficiency, data quality, and transparency of Information Utilities. By introducing specific service quality standards, mandating frequent data updates, and requiring statistical data publication, the amendments are expected to improve the quality and accessibility of debt-related information. These changes are likely to have a positive impact on the effectiveness of the Insolvency and Bankruptcy Code, benefiting stakeholders across the financial ecosystem.
Key Entities Referenced
Insolvency and Bankruptcy Board of India: Regulatory body that issued the notification.
Insolvency and Bankruptcy Code, 2016: The legal code under which the regulations are made.
Insolvency and Bankruptcy Board of India Information Utilities Regulations, 2017: The original regulations being amended.
Insolvency and Bankruptcy Board of India Information Utilities Amendment Regulations, 2021: The title of the amendment regulations.
New Delhi: Location of notification issuance.
Form C: A form within the Insolvency and Bankruptcy Board of India Information Utilities Regulations, 2017 related to information submission.
Dr. M. S. Sahoo: Chairperson of Insolvency and Bankruptcy Board of India.
Mayapuri, New Delhi: Location of the Dte. of Printing at Government of India Press.
Delhi: Location of the Controller of Publications.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
xxxGIDHxxx
सी.जी.-डी.एxलxx.-GअID.-E1x3x0x 42021-226578
CG-DL-E-13042021-226578
ऄसाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 175] नइ ददल्ली, मगं लवार, ऄप्रलै 13, 2021/चत्रै 23, 1943
No. 175] NEW DELHI, TUESDAY, APRIL 13, 2021/CHAITRA 23, 1943
भारतीय ददवाला और िोधन ऄक्षमता बोड ड
ऄजधसचू ना
नइ ददल्ली, 13 ऄप्रलै , 2021
भारतीय ददवाला और िोधन ऄक्षमता बोडड (आनफॉरमिे न यटू िजलिी) (सिं ोधन) जवजनयम, 2021
स.ं अइ.बी.बी.अइ./2021-22/िी.एन./अर.इ.िी.072.—भारतीय ददवाला और िोधन ऄक्षमता बोडड, ददवाला
और िोधन ऄक्षमता संजिता, 2016 (2016 का 31) की धारा 240 के साथ पटित धारा 196 द्वारा प्रदत्त िजियों का
प्रयोग करते हुए, भारतीय ददवाला और िोधन ऄक्षमता बोडड (आनफॉरमेिन यूटिजलिी) जवजनयमन, 2017 का और संिोधन
करने के जलए जनम्नजलजखत जवजनयम बनाता ि,ै ऄथाडत:् -
1. (1) आन जवजनयमों का संजक्षप्त नाम भारतीय ददवाला और िोधन ऄक्षमता बोडड (आनफॉरमेिन यूटिजलिी) (संिोधन)
जवजनयम, 2021 ि ै।
(2) य ेरािपत्र में ईनके प्रकािन की तारीख को प्रवृत्त िोंग े।
2. भारतीय ददवाला और िोधन ऄक्षमता बोडड (आनफॉरमिे न यटू िजलिी) जवजनयमन, 2017 (जिन्ि ें आसमें आसके पश्चात ्
मूल जवजनयम किा गया ि)ै के जवजनयम 15 के ईप-जवजनयम (3) में, खंड (ख) के पश्चात ् जनम्नजलजखत खंड ऄतं ःस्ट्थाजपत दकए
िाएंगे, ऄथाडत:् -
“(खक) न्यूनतम सेवा क्वाजलिी मानक, जिसके ऄतं गतड जनम्नजलजखत के जलए समय-सीमाएं भी ि ैं -
(i) ईपयोिाओं का रजिस्ट्रीकरण,
2234 GI/2021 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
(ii) चूक के ऄजभलेख का िारी दकया िाना, और
(iii) रजिस्ट्रीकृत ईपयोिाओं को वार्षिक जववरणी िारी करना ।
(खख) क्वाजलिी मानकों और क्वाजलिी मानक प्रमाणन को ऄगं ीकृत करना।”
3. मूल जवजनयमों के जवजनयम 27 में, ईप-जवजनयम (1) के स्ट्थान पर, जनम्नजलजखत ईप-जवजनयम रखा िाएगा, ऄथाडत:् -
“(1) ऐसा ईपयोिा, जिसने दकसी आनफॉरमेिन यूटिजलिी को ऄनुसूची के प्ररूप ग में सचू ना प्रस्ट्ततु की ि,ै प्रत्यके
मास के ऄंजतम ददन तक यथा-जवद्यमान ऄद्यतन सूचना अगामी मास के प्रथम सप्ताि में प्रस्ट्ततु करेगा:
परन्त ुचूक की सूचना को, चूक िोने के सात ददन के भीतर ऄद्यतन दकया िाएगा ।”
4. मूल जवजनयमों में, जवजनयम 36 के पश्चात ्जनम्नजलजखत जवजनयम ऄंतःस्ट्थाजपत दकया िाएगा, ऄथाडत्:-
“36क. साजं ययकीय सचू ना का प्रकािन –
(1) आनफॉरमेिन यूटिजलिी ऄपने कब्िाधीन ऋण से संबंजधत सूचना के संबंध म ें अंकडें जतमािी रूप में प्रकाजित
करेगा ।
(2) ईप-जवजनयम (1) के अंकडों म ें ऋणों का मुद्रा, भोगौजलक, क्षेत्र, अकार, कालावजध, प्रकार, ईधार देन े की
व्यवस्ट्था और चूक की घिना के ऄनुसार जवतरण का ईपबंध िोगा ।”
5. मूल जवजनयमों की ऄनुसूची में, प्ररूप ग स्ट्थान पर जनम्नजलजखत प्ररूप रखा िाएगा, ऄथाडत ् :-
“प्ररूप ग
भारतीय ददवाला और िोधन ऄक्षमता बोडड (आनफॉरमिे न यटू िलिी) जवजनयमन, 2017 के जवजनयम 20 के ऄधीन
(टिप्पण: आस प्ररूप म ेंसूचना ऐसे अवश्यक ईपातं रणों सजित, िो आनफॉरमेिन यूटिजलिी ईजचत समझे, स्ट्वीकार की िा
सकेगी ।)
क. ऋण के सिृ न स ेसबं जं धत ब्यौरे
क्रम सचू ना की प्रकृजत जवजिजिया ं
स.ं
I II III
सचू ना प्रस्ट्ततु करन ेवाल ेईपयोिा के ब्यौरे
1 कारोबार की तारीख
(सूचना ऄद्यतन िोगी । ईदािरणाथड, 30 ऄप्रैल, 2020 को यथा-जवद्यमान डािा, भले िी वि पश्चात्वती
तारीख, मानो 5 मइ, 2020 को प्रस्ट्तुत दकया गया िो, कारोबार की तारीख - 30 ऄप्रैल, 2020 को यथा-
जवद्यमान डािा िोगा ।)
2 यू.अइ.एन.(पैन)
3 पूरा नाम
(कृपया ऄजभवादन िब्द के जबना ऄपना पिला, मध्य और ऄंजतम नाम द)ें
4. संबंध
(ऋणी/लेनदार/प्रत्याभूजतदाता/सि-वचनबद्ध/प्रजतभूजत प्रदाता/समनुदजेिती)
5. िन्म की तारीख/जनगमन की तारीख
6 पत्र-व्यविार का पता[भाग III—खण् ड 4] भारत का रािपत्र : ऄसाधारण 3
7 जपन कोड
8 िेलीफोन नं.
9 मोबाआल नं.
10 इमेल अइ.डी.-1
(प्रस्ट्तुत करने की पावती, प्रस्ट्तुत करने से संबंजधत ऄन्य संदिे ों या कोइ ऄन्य साधारण प्रयोिन के संदिे के
जलए)
11 इमेल अइ.डी.-2
(प्रस्ट्तुतकताड को भेिे गए जववाद-सतकड के जलए)
12 इमेल अइ.डी.-3
प्रस्ट्तुतकताड को भेिे गए चूक-सतकड के जलए)
ऋण के ऄन्य पक्षकारों (ऋण प्रस्ट्ततु करन ेवाल ेव्यजि के ऄजतटरि) के ब्यौरे
पक्षकारों के ब्यौरे (कृपया ईतन ेपक्षकार िोडें जितन ेलागू िों)
13. संबंध
(ऋणी/लेनदार/प्रत्याभूजतदाता/सि-वचनबद्ध/प्रजतभूजत प्रदाता/समनुदजेिती)
14 पक्षकार का नाम
(कृपया ऄजभवादन िब्द के जबना ऄपना पिला, मध्य और ऄंजतम नाम द)ें
15 रजिस्ट्रीकृत/स्ट्थायी पता
16 रजिस्ट्रीकृत पता जपन कोड
17 पत्र-व्यविार का पता
18 पत्र-व्यविार का पता जपन कोड
19 पक्षकार का प्रकार
(भारतीय आकाइ, जनवासी व्यजि, जवदिे ी आकाइ, ऄजनवासी भारतीय/जवदिे ी व्यजि)
20 जवजधक गिन
(पजब्लक जलजमिेड कंपनी, प्राआवेि जलजमिेड कंपनी, एल.एल.पी., स्ट्वत्वधाटरता, भागीदारी, दकसी कानून
द्वारा या ईसके ऄधीन सृजित आकाइ, न्यास, जिन्द ू ऄजवभि कुिुम्ब, सिकारी सोसाआिी, व्यजि-सगम,
सरकार, स्ट्वावलंबी समूि, जनवासी व्यजि, ऄजनवासी जवदिे ी कंपनी)
21 एम.एस.एम.इ. फ्लैग (िां/निीं)
22 एम.एस.एम.इ. ईप-प्रकार
(सूक्ष्म, लघु, मध्यम)
23 ईद्योग प्रवगड
24 िन्म की तारीख/जनगमन की तारीख
25 रजिस्ट्रीकृत कारपोरेि आकाआयों के जलए कारपोरेि पिचान संययांक (सी.अइ.एन./ एल.एल.पी.अइ.एन.)
26 पैन4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
27 ग्रािक अइ.डी.
28 सी.के.वाइ.सी. के.अइ.एन.
29 संपकड व्यजि का नाम
30 संपकड व्यजि का मोबाआल नं.
31 वैकजल्पक नं.
32 इमेल अइ.डी.
33 वैकजल्पक इमेल अइ.डी.
ऋण के ब्यौरे
34 ऋण संदभड संययांक
35 पुराना ऋण संदभड संययांक
(यदद ऋण को आससे पूवड दकसी आनफॉरमेिन यूटिजलिी में ऄजभजलजखत दकया गया ि ै तो ऋण का ऄजभन्न
पिचानदाता)
36 लेनदार की ऄवजस्ट्थजत
(लेनदार का अंतटरक ऄवजस्ट्थजत कोड, ििां लेनदार द्वारा प्रस्ट्तुत दकया गया ि)ै
37 लेनदार का कारोबार यूजनि
(लेनदार का अंतटरक कारोबार यूजनि कोड, ििां लेनदार द्वारा प्रस्ट्तुत दकया गया ि)ै
38 लेनदार का अर.एम. इमेल
(ऄजधसूचना के प्रयोिनाथड लेनदार के संपकड प्रबंधक का इमेल)
39 ऋण संजवदा की तारीख
(मंिूरी, ऄंजतम नवीकरण, ऋण पावती, अदद की तारीख)
40 ऋण के प्रारंभ की तारीख
(प्रथम संजवतरण की तारीख या सुजवधा की दक्रयािीलता की तारीख)
41 मंिूरी संदभड सं.
42 मंिूरी की मुद्रा
43 मंिूर की गइ रकम
44 अिरण िजि
45 ऋण का प्रकार
(जवत्तीय, पटरचालन)
46 मध्यवती िजै सयत (िां/निीं)
47 ऋण ईप-प्रकार
48 जवत्तपोिण प्रकार सूचक
(जवत्तपोजित, गैर-जवत्तपोजित)[भाग III—खण् ड 4] भारत का रािपत्र : ऄसाधारण 5
49 सुजवधा का नाम
50 पुनभुडगतान अवती
(माजसक, जतमािी, ऄधड-वार्षिक, वार्षिक, मांग करने पर, बुलेि, रोललग, ऄन्य)
51 ऋण की ऄवजध
52 दकस्ट्त की रकम
53 ब्याि की दर
54 ईधार दने े की व्यवस्ट्था
(एकल बैंककग, सिायता संघ, बहुजवध बैंककग व्यवस्ट्था, बहुजवध बैंककग के बािर, सिायता संघ के बािर,
ऄन्य)
55 ऋण की मुद्रा
56 कुल बकाया रकम
57 बकाया मूल रकम
58 बकाया ब्याि
59 बकाया ऄन्य प्रभार
60 ऄजतिोध्य रकम
61 कालातीत ददन
(टरपोिड करने के कारोबारी तारीख को यथा-जवद्यमान कालातीत ददनों की संयया)
62 अजस्ट्त वगीकरण
(मानक, ऄमानक, िंकास्ट्पद, िाजन)
63 एस.एम.ए. प्रवगड
(0,1,2, सं.)
64 खाता बन्द फ्लैग
(िां, निीं, समनुदजे ित)
65 भाग-क टिप्पजणयां
(ऐसी कोइ टिप्पणी, िो ऄजधप्रमाणन के दौरान ऄन्य पक्षकारों के जलए सिायक िो सकती ि ै।)
ख. ऋण पर प्रजतभजू त के सिृ न स ेसबं जं धत ब्यौरे (यदद लागू न िोता, तो कृपया ‘लाग ूनिीं’ जलजखए)
66 प्रजतभूजत जित के सृिन की तारीख
67 सृजित प्रभार का प्रकार
(बंधक, अडमान, प्रभार, समनुदेिन, जगरवी, धारणाजधकार, नकारात्मक धारणाजधकार, प्रत्याभूजत, अजस्ट्त
कवर और ऐसे ऄन्य प्रभार
68 अजस्ट्त प्रकार
(िंगम, स्ट्थावर, ऄमूतड, ऄवगीकृत)6 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
69 प्रजतभूजत प्रकार
(मूल्यों की सूची के ऄनुसार प्रजतभूजत के रूप में प्रयुि अजस्ट्त की प्रकृजत)
70 प्रजतभूजत प्रवगड
(प्राथजमक, सांपार्षिक)
71 अजस्ट्त अइ.डी.
(ईस अजस्ट्त का पिचान संययांक जिस पर प्रभार का सृिन दकया गया ि)ै
72 प्रजतभूजत का वणडन
73 प्रजतभूजत का मूल्य
74 प्रजतभूजत की मुद्रा
75 मूल्यांकन की तारीख
76 अर.ओ.सी. प्रभार अइ.डी.
(कारपोरेि कायड मंत्रालय के पास यथा-रजिस्ट्रीकृत, ििां लागू िो)
77 सी.इ.अर.एस.ए.अइ. प्रजतभूजत जित अइ.डी.
78 भाग-ख टिप्पजणया ं
(ऐसी कोइ टिप्पणी, िो ऄजधप्रमाणन के दौरान ऄन्य पक्षकारों के जलए सिायक िो सकती ि ै।)
ग. ऋण की चूक स ेसंबजं धत ब्यौरे (यदद लाग ून िोता िो तो कृपया लाग ूनिीं जलजखए)
79 चूक की तारीख
80 कुल बकाया रकम
81 चूक की रकम
82 दये तारीख के बाद के ददन
83 ऄजतम पुनभुडगतान की रकम
84 ऄंजतम पुनभुडगतान की तारीख
85 वाद फाआल करने की तारीख
86 भाग-ग टिप्पजणयां
(ऐसी कोइ टिप्पणी, िो ऄजधप्रमाणन के दौरान ऄन्य पक्षकारों के जलए सिायक िो सकती ि ै।)
87 ऋण, प्रजतभूजत और चूक के जलए सबूत के रूप में ऄपलोड दकए गए दस्ट्तावेज़*:
ऋण:
क. ईधार करार की प्रजत (समय-समय पर यथा-पुनरीजक्षत)
ख. पुनभुडगतान ऄनुसूची (यदद प्रस्ट्तुतकताड के कब्ज़ें में ि)ै
ग. बकाया की पुजि
घ. तुलनपत्र और नकदी प्रवाि जववरजणयां (यदद प्रस्ट्तुतकताड ऋणी ि)ै
ङ. ऋण के सृिन/ऋण के जनबंधनों में पटरवतडन से संबंजधत कोइ ऄन्य दस्ट्तावेज़[भाग III—खण् ड 4] भारत का रािपत्र : ऄसाधारण 7
प्रजतभजू त:
क. प्रजतभूजत-जवलेख की प्रजत
ख. मूल्यांकन टरपोिड की प्रजत
ग. सी.इ.अर.एस.ए.अइ. के पास रजिस्ट्रीकरण का सबूत
घ. प्रभार के रजिस्ट्रीकरण-प्रमाणपत्र की प्रजत
ङ. प्रजतभूजत चूक के सृिन से संबंजधत कोइ ऄन्य दस्ट्तावेज़
चूक:
चूक के सबूत के रूप में कोइ दस्ट्तावेज़
* यि अवश्यक निीं ि ैदक दस्ट्तावेज़ प्ररूप ग में डािा के साथ प्रस्ट्तुत दकए िाएं, वे दकसी भी प्रक्रम पर प्रस्ट्तुत दकए िा
सकते ि ैं।”
डॉ. एम. एस. साहू, ऄध्यक्ष
[जवज्ञापन- III/4/ऄसा./39/2021-22]
टिप्पण: भारतीय ददवाला और िोधन ऄक्षमता बोडड (आनफॉरमेिन यूटिजलिी) जवजनयमन, 2017, भारत के रािपत्र,
ऄसाधारण, भाग III, खडं 4, सं. 129 म ें तारीख 31 माचड, 2017 को ऄजधसूचना सं. अइ.बी.बी.अइ./2016-
17/िी.एन./अर.इ.िी.009, तारीख 31 माच,ड 2017 द्वारा प्रकाजित दकए गए थ े और ईनमें ऄंजतम संिोधन
भारत के रािपत्र, ऄसाधारण, भाग 3, खंड 4, सं. 488 म ें तारीख 13 नवम्बर, 2020 को ऄजधसूचना सं.
अइ.बी.बी.अइ./2020-21/िी.एन./अर.इ.िी.065, तारीख 13 नवम्बर, 2020 द्वारा प्रकाजित भारतीय
ददवाला और िोधन ऄक्षमता बोडड (आनफॉरमेिन यूटिजलिी) (सिं ोधन) जवजनयम, 2020 द्वारा दकया गया था ।
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
NOTIFICATION
New Delhi, the 13th April, 2021
Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2021
No. IBBI/2021-22/GN/REG072.—In exercise of the powers conferred by section 196 read with
section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy
Board of India hereby makes the following regulations further to amend the Insolvency and Bankruptcy
Board of India (Information Utilities) Regulations, 2017, namely:-
1. (1) These Regulations may be called the Insolvency and Bankruptcy Board of India (Information
Utilities) (Amendment) Regulations, 2021.
(2) These Regulations shall come into force on the date of their publication in the Official Gazette.
2. In the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017,
(hereinafter referred to as the principal regulations), in regulation 15, in sub-regulation (3), after
clause (b), the following clauses shall be inserted, namely:―
―(ba) minimum service quality standards, including timelines for -
(i) registration of users,
(ii) issuance of record of default, and
(iii) issuance of annual statement to registered users.
(bb) adoption of quality standards and quality standards certifications.‖
3. In the principal regulations, in regulation 27, for sub-regulation (1), the following sub-regulation
shall be substituted, namely: -8 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
―(1) A user, who has submitted information in Form C of the Schedule to an information utility,
shall submit the information updated as on the last day of every month, in the first week of
following month:
Provided that information of default shall be updated within seven days of occurrence of
default.‖
4. In the principal regulations, after regulation 36, the following regulation shall be inserted, namely:-
―36A. Publication of statistical information -
(1) An information utility shall publish statistics relating to debt related information in its
possession, quarterly.
(2) The statistics in sub-regulation (1) shall provide distribution of debts in terms of currency,
geography, sector, size, tenor, type, lending arrangement, and incidence of default.‖
5. In the principal regulations, in the Schedule, for Form C, the following Form shall be substituted,
namely:-
―FORM C
Under regulation 20 of the Insolvency and Bankruptcy Board of India (Information Utilities)
Regulations, 2017.
(Note: Information may be accepted in this Form with necessary modifications as the information
utility deems fit.)
A. Details relating to Creation of Debt
Sl. No. Nature of information Particulars
I II III
Details of the user submitting information
1 Business date
(The information will be as on date. For example, data of 30th April 2020 submitted even
on a later date, say on 05th May 2020, will be as on the business date – 30th April 2020)
2 UIN (PAN)
3 Full Name
(Please provide your First, Middle and Last name without salutations)
4 Relationship
(Debtor/Creditor/ Guarantor/ Co-obligant / Security Provider / Assignee)
5 Date of Birth/ Date of incorporation
6 Communication address
7 PIN Code
8 Telephone No.
9 Mobile No.
10 Email ID-1
(for Submission acknowledgment, other submission related messages or any other general
purpose message)
11 Email ID-2
(for Dispute alert sent to submitter)
12 Email ID-3
(for Default alert sent to submitter)
Details of Other Parties to the Debt (Apart from the person submitting the debt)
Details of Parties (please add as many parties as may be applicable)
13 Relationship
(Debtor/Creditor/ Guarantor/ Co-obligant / Security Provider / Assignee)
14 Party name
(Please provide your First, Middle and Last name without salutations)[भाग III—खण् ड 4] भारत का रािपत्र : ऄसाधारण 9
15 Registered / Permanent Address
16 Registered Address PIN Code
17 Communication address
18 Communication Address PIN Code
19 Party Type
(Indian Entity, Resident Individual, Foreign Entity, NRI/Foreign Individual)
20 Legal Constitution
(Public Ltd. company, Private Ltd. company, LLP, Proprietorship, Partnership, Entity
Created by or under a Statute, Trust, HUF, Co-op Society, Association of Persons,
Government, Self Help Group, Resident Individual, Non-Resident Foreign Company).
21 MSME Flag
(Y/N)
22 MSME Sub-type
(Micro, Small, Medium)
23 Industry Category
24 Date of Birth/ Date of incorporation
25 Corporate Identification Number (CIN/LLPIN) for registered corporate entities.
26 PAN
27 Customer ID
28 CKYC KIN
29 Contact Person Name
30 Contact Person’s Mobile No.
31 Alternative Number
32 Email id
33 Alternative Email ID
Details of the Debt
34 Debt Reference Number
35 Old Debt Reference No.
(Unique identifier of the debt, in case the debt has previously been recorded in any
Information Utility)
36 Creditor Location
(Creditor’s internal location code, where submitted by creditor)
37 Creditor Business Unit
(Creditor’s internal business unit code, where submitted by creditor)
38 Creditor RM Email
(Email of Creditor’s Relation Manager, for notification purpose)
39 Debt Contract Date
(date of sanction, last renewal, debt acknowledgements, etc.)
40 Debt Start Date
(Date of first disbursement or date of activation of the facility)
41 Sanction Reference No.
42 Sanction Currency
43 Sanctioned Amount
44 Drawing Power
45 Type of Debt
(Financial, Operational)10 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
46 Intermediary Status
(Yes, No)
47 Debt subtype
48 Funded Type Indicator
(Funded, Non-fund)
49 Facility name
50 Repayment frequency
(Monthly, Quarterly, Half yearly, Annual, On demand, Bullet, Rolling, Others)
51 Tenor of debt
52 Instalment Amount
53 Rate of interest
54 Lending arrangement
(Sole Banking, Consortium, Multiple Banking Arrangement, Outside Multiple Banking,
Outside Consortium, Others)
55 Currency of debt
56 Total Outstanding Amount
57 Principal Outstanding
58 Interest Outstanding
59 Other Charges Outstanding
60 Amount Overdue
61 Days Overdue
(Number of days overdue as on business date of reporting. If no overdue, report zero
value)
62 Asset Classification
(Standard, Sub-standard, Doubtful, Loss)
63 SMA Category
(0, 1, 2, N)
64 Account Closed Flag
(Yes, No, Assigned)
65 Part-A Remarks
(Any remarks that can be helpful for Other Parties during authentication)
B. Details relating to Creation of Security on Debt (If not applicable, please write NA)
66 Date of creation of Security Interest
67 Type of Charge created
(Mortgage, Hypothecation, Charge, Assignment, Pledge, Lien, Negative Lien, Guarantee,
Asset Cover and such other charges )
68 Assets type
(Movable, Immovable, Intangible, Not Classified)
69 Security type
(Nature of asset used as security as per list of values)
70 Security Category
(Primary, Collateral)
71 Asset ID
(identification number of asset on which charge is created)
72 Description of security
73 Value of security
74 Currency of Security[भाग III—खण् ड 4] भारत का रािपत्र : ऄसाधारण 11
75 Date of valuation
76 ROC Charge ID
(as registered with MCA, where applicable)
77 CERSAI Security Interest ID
78 Part-B Remarks
(Any remarks that can be helpful for Other Parties during authentication)
C. Details relating to Default of Debt (If not applicable, please write NA)
79 Date of default
80 Total Outstanding Amount
81 Default amount
82 Days past due
83 Amount of last repayment
84 Date of last repayment
85 Date of filing of suit
86 Part-C Remarks
(Any remarks that can be helpful for Other Parties during authentication)
87 Documents* uploaded as proof for Debt, Security and Default:-
Debt:
a. Copy of Loan Agreement (as revised from time to time)
b. Repayment schedule (If in possession of the submitter)
c. Balance Confirmation
d. Balance Sheet and Cash Flow Statements (If the submitter is the Debtor)
e. Any other documents relating to creation of debt/change in the terms of the debt
Security:
a. Copy of the Security Deed
b. Copy of the Valuation Report
c. Proof of Registration with CERSAI
d. Copy of the Certificate of Registration of Charge
e. Any other document relating to creation of security
Default:
Any documents attached as a proof of default
* Documents can be submitted at any stage, not necessarily along with the data in Form C.”
Dr. M. S. SAHOO, Chairperson
[ADVT.- III/4/Exty./39/2021-22]
Note : The Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017 were
published vide notification No. IBBI/2016-17/GN/REG009 dated 31st March, 2017 in the Gazette
of India, Extraordinary, Part III, Section 4, No. 129 on 31st March, 2017 and were last amended by
the Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations,
2020 published vide notification No. IBBI/2020-21/GN/REG065, dated the 13th November, 2020 in
the Gazette of India, Extraordinary, Part III, Section 4, No. 488 on 13th November, 2020.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.