Home Rules & Regulations IBBI Notifies Information Utilities (Amendment) Regulations, 2020

IBBI Notifies Information Utilities (Amendment) Regulations, 2020

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The Insolvency and bankruptcy board of India (IBBI) has notified IBBI (Information Utilities) (Amendment) Regulations, 2020 to further amend the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017.

The amendment brings in new regulation 21A which deals with dissemination of public announcement in which an information utility shall disseminate every public announcement it receives or has access to, on the date of its receipt or access, to its registered users, who are creditors of the corporate debtor undergoing insolvency proceeding under the Code.

The IBBI amended the Regulations to require the Interim Resolution Professional or Resolution Professional to submit the list of creditors on an electronic platform for dissemination on its website.

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