Now creditors need to file information of default with information utilities before filing a plea to initiate CIRP
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- By Chetan Kulasri
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- Last Updated on 16 June, 2022
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Notification No. IBBI/2022-23/GN/REG085, Dated: 14.06.2022
The IBBI has notified the Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2022. Amendment has been made to regulation 20 mandating creditors to file information of default with information utility before filing an application to initiate CIRP under section 7 or 9. It has also introduced form D for record of default i.e. for the status of authentication of default.
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