TaxTMI 
TaxTMI 
The Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2019
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..... IBBI/2019-20/GN/REG046.- 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 ....
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....ich the Board may take as it deems fit, any delay in payment of fee by an information utility shall attract simple interest at the rate of twelve percent per annum until paid. Illustration (a) Where an information utility is registered on 1st December, 2016, it shall pay a fee of fifty lakh rupees within fifteen days of receipt of intimation of registration. No further payment is required to be....
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.... 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 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 three days each time for the debtor to ....
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....f default Disputed Red 3 Debtor does not respond even after three reminders Deemed to be Authenticated Yellow (4) 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 ....