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of <h1>Regulation 5: Process for Information Utility Registration Applications Reviewed and Decided by Board Within Specified Timelines</h1> Regulation 5 of the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017 outlines the process for the disposal of applications for registration as an information utility. The Board examines applications, allowing applicants to address deficiencies and submit additional documents or clarifications. Applicants may be required to appear for further clarifications. If the Board finds the applicant eligible and competent, it may grant or renew registration within sixty days. If registration is initially denied, the Board must provide reasons within forty-five days, allowing the applicant fifteen days to respond. The Board then makes a final decision within thirty days, either accepting or rejecting the application. If rejected, the applicant must fulfill certain obligations and assist in transferring stored information.
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