IBBI removes column for ‘Identification Number’ from list of stakeholders filed u/r 31(5)(d) of liquidation norms

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  • Last Updated on 25 November, 2021

IBBI removes column for ‘Identification Number’ from list of stakeholders

CIRCULAR NO. IBBI/LIQ/46/2021, Dated 24-11-2021

The insolvency regulatory, IBB vide. Circular No. IBBI/LIQ/40/2021 dated 04-03-2021directed liquidators to file list of stakeholders and modification thereof in the specified format on the web portal on ibbi.gov.in. In a partial modification to the circular, IBBI has removed column ‘identification number’ from the particulars of the format for submitting information to the website. IBBI noticed that in a few instances, details such as Aadhaar, PAN card, etc., are filled in identification numbers. Such information being sensitive personal information is prone to misuse and not to be revealed on public platforms. The ‘General Guidelines for securing Identity information and Sensitive personal data or information in compliance to Aadhaar Act, 2016 and Information Technology Act, 2000’issued by the Ministry of Electronics and Information Technology provides that any personally identifiable data including Aadhaar should not be published in the public domain, said IBBI.

IBBI further directed the insolvency professionals to file the list of stakeholders of the respective corporate debtor under liquidation and modification thereof, in the revised format as prescribed, within 3 days of the preparation of the list or modification thereof, as the case may be.

Click Here To Read The Full Circular
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