National Company Law Tribunal (NCLT) vide its order dated 12 May 2020 has directed to Financial Creditors to file record from Information Utility mandatorily alongwith the new petitions being filed under section 7 of Insolvency and Bankruptcy Code, 2016 (IBC). No new petition shall be entertained without record of default u/s 7 of IBC.
Here, it is pertinent to mention that National E-Governance Services Ltd (NeSL), is India’s first and only Information Utility which is registered with the Insolvency and Bankruptcy Board of India (IBBI) under the aegis of the Insolvency and Bankruptcy Code, 2016 (IBC). The primary role of NeSL is to serve as a repository of legal evidence holding the information pertaining to any debt/claim, as submitted by the financial or operational creditor and verified and authenticated by the other parties to the debt.
Henceforth, default record from National E-Governance Services Ltd (NeSL) is mandatorily required to be annexed with all the petitions being filed u/s 7 of IBC.
In the case of petitions already filed u/s 7 of IBC which are pending for admission, NCLT has also directed to the Authorised Representatives/parties in the case to file default record from Information Utility i.e NeSL before next date of hearing.
Reference:
NCLT Order-File No.25/02/2020-NCLT dated 12th May 2020
