Amended rules for info utilities: Longer timelines, non-corp default records, debtor verification & disputed records for banks. https://www.taxtmi.com/highlights?id=80652 This notification amends the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017. Key changes include: extending timelines for information utilities to accept/reject information; allowing financial creditors to submit default records for non-corporate debtors; mandating verification of debtor details before issuing default records; introducing provisions for handling disputed default amounts, especially for scheduled banks as financial creditors, by issuing separate authenticated/disputed default records. The amendments aim to enhance efficiency, transparency and dispute resolution mechanisms within the insolvency ecosystem. en-us Fri, 23 Aug 2024 12:04:10 +0530 Fri, 23 Aug 2024 12:04:10 +0530 TaxTMI RSS Generator Amended rules for info utilities: Longer timelines, non-corp default records, debtor verification & disputed records for banks. https://www.taxtmi.com/highlights?id=80652 This notification amends the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017. Key changes include: extending timelines for information utilities to accept/reject information; allowing financial creditors to submit default records for non-corporate debtors; mandating verification of debtor details before issuing default records; introducing provisions for handling disputed default amounts, especially for scheduled banks as financial creditors, by issuing separate authenticated/disputed default records. The amendments aim to enhance efficiency, transparency and dispute resolution mechanisms within the insolvency ecosystem. Highlights Insolvency and Bankruptcy Fri, 23 Aug 2024 12:04:10 +0530 https://www.taxtmi.com/highlights?id=80652