The Insolvency and Bankruptcy Code, 2016
Regulation of Insolvency Professionals, Agencies and Information Utilities
Section 214: Obligations of information utility:
*214. For the purposes of providing core services to any person, every information utility shall-—
(a) create and store financial information in a universally accessible format;
(b) accept electronic submissions of financial information from persons who are under obligations to submit financial information under sub-section (1) of section 215, in such form and manner as may be specified by regulations;
(c) accept, in specified form and manner, electronic submissions of financial information from persons who intend to submit such information;
(d) meet such minimum service quality standards as may be specified by regulations;
(e) get the information received from various persons authenticated by all concerned parties before storing such information;
(f) provide access to the financial information stored by it to any person who intends to access such information in such manner as may be specified by regulations;
(g) publish such statistical information as may be specified by regulations;
(h) have inter-operatability with other information utilities.
Notifications & Circulars
*This shall come into force w.e.f. from 01.04.2017.