📝 One-liners · 65 cards
Regulatory & Miscellaneous Aspects
Which institutional pillar of the IBC collects, collates, authenticates and disseminates financial information of debtors in a centralised electronic database?
An Information Utility (IU) performs this role; it is a regulated and licensed repository of information relating to corporate debtors.
What is an Information Utility (IU) under the IBC, 2016?
A regulated licensed repository collecting and disseminating debtor financial information.
Under the IBC, which body is the adjudicating authority for corporate insolvency resolution and liquidation?
The National Company Law Tribunal (NCLT) is the adjudicating authority for corporate persons, while the Debt Recovery Tribunal (DRT) handles individuals and partnership firms.
Under Regulation 21, within how many days must an IU deliver information of default to the debtor for confirmation?
Within seven days of receiving the information of default.
🔒
Unlock 65 revision one-liners
Interactive flashcard deck — flip every card to drill questions and answers, mark the ones you got wrong, and revise smarter for Regulatory & Miscellaneous Aspects.
🪙
Unlock cost
300 coins
30-day access · re-unlocks free for 30 days