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of <h1>IBBI Updates Information Utilities Regulations 2017: New Timelines, Verification Rules Effective October 2024, Regulation 21 Amended.</h1> The Insolvency and Bankruptcy Board of India (IBBI) has issued amendments to the Information Utilities Regulations, 2017, effective from October 1, 2024, with specific regulations effective from December 1, 2024. The amendments include changes to regulation 21, extending the timeframes for certain actions to seven days, and revising the submission process for financial creditors. New provisions require verification of debtor information before issuing a record of default and address how disputes by debtors are recorded. The changes aim to enhance the accuracy and reliability of information recorded by information utilities in the insolvency process.
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