24. The term ‘Information utility’ is sometimes seen in the news. Information utility:
1.It is an information network which store financial data of firms
2. It is governed by the Insolvency and Bankruptcy Board of India(IBBI)
Select the correct answer using the code given below:
24. The term ‘Information utility’ is sometimes seen in the news. Information utility:
1.It is an information network which store financial data of firms
2. It is governed by the Insolvency and Bankruptcy Board of India(IBBI)
Select the correct answer using the code given below:
The correct option is C Both 1 and 2
Information utility is an information network which would store financial data like borrowings, default and security interests among others of firms. The utility would specialise in procuring, maintaining and providing/supplying financial information to businesses, financial institutions, adjudicating authority, insolvency professionals and other relevant stake holders. The objective behind information utilities is to provide high-quality, authenticated information about debts and defaults, as per the report of the Working Group on Information Utility published by the Ministry of Corporate Affairs. Information available with the utility can be used as evidence in bankruptcy cases before the National Company Law Tribunal. Information utilities are governed by the Insolvency and Bankruptcy code 2016 and IBBI (Information Utilities) Regulations 2017
National e-Governance Services Ltd (NeSL) is India’s first information utility (IU) for bankruptcy cases under the Insolvency and Bankruptcy Code 2016. NeSL is owned by State Bank of India and Life Insurance Corporation Ltd., among others
Information utility is an information network which would store financial data like borrowings, default and security interests among others of firms. The utility would specialise in procuring, maintaining and providing/supplying financial information to businesses, financial institutions, adjudicating authority, insolvency professionals and other relevant stake holders. The objective behind information utilities is to provide high-quality, authenticated information about debts and defaults, as per the report of the Working Group on Information Utility published by the Ministry of Corporate Affairs. Information available with the utility can be used as evidence in bankruptcy cases before the National Company Law Tribunal. Information utilities are governed by the Insolvency and Bankruptcy code 2016 and IBBI (Information Utilities) Regulations 2017
National e-Governance Services Ltd (NeSL) is India’s first information utility (IU) for bankruptcy cases under the Insolvency and Bankruptcy Code 2016. NeSL is owned by State Bank of India and Life Insurance Corporation Ltd., among others
