Record of Default (RoD) under IBC

Download of Record of Default (RoD) is disabled for creditors - To request for RoD, please call RoD Hotline No 88673 92123 or Email at rod@nesl.co.in

Record of Default (RoD)

Apply for RoD from NeSL Information Utility (IU)

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RoD – RECORD OF DEFAULT

A Record of Default or Form D issued by NeSL as an Information Utility is a digital, time stamped document, with the details of debt, default, date of default, and acknowledgement of debt. The contents of RoD has details of both creditor submissions and debtor responses and the attempts made by NeSL as per Reg 21. of the IU Regulations 2017, captured through the IU platform. The RoD serves as prima facie evidence of default for insolvency proceedings under the IBC.

Steps to request RoD

List of Documents to apply for RoD

WHO CAN APPLY FOR RoD?

A Financial Creditor or an Operational Creditor who has submitted an information of default to the Information Utility may apply for a Record of Default. The Creditors may seek issuance of an RoD for use before the Adjudicating Authority under the IBC.

CIRP Applications Admitted on the basis of Form D of IU (RoD)

RECORD OF DEFAULT (RoD)

Dedicated Support for Record of Default

A dedicated Support exclusively for | Request for Record of Default | Submission of Information of default on NeSL Portal

+91 88673 92123

rod@nesl.co.in

Please Note: This is NOT a NeSL Tollfree/Helpdesk number.
Calls or emails to this line will be answered by an officer from the Operations Department.

TECHNICAL NOTE ON PROCESS TO BE FOLLOWED BY IU BEFORE GENERATION OF RECORD OF DEFAULT (ROD)

In default reported debt records, NeSL-IU sends Authentication Invitation email/s to the Creditor furnished email ID, email ID lodged with MCA and the registered email ID of the Debtor. (wherever the Debtor is registered as User on NeSL-IU Platform)
In cases where the Debtor does not respond, NeSL reminds the Debtor at least 3 times for confirmation of default by allowing 7 days each time for the Debtor to respond.
In cases where emails sent are not successfully delivered to the addressee, Authentication Invitation Letter is sent by RPAD (Registered Post Acknowledgement Due) & followed by 3 reminders as prescribed in Regulation 21 of IBBI (IU) Regulations, 2017.
On completion of the above process, the Record of Default will indicate the authentication status as “Authenticated (admitted) or Disputed or Deemed to be authenticated”.

STEPS TO REQUEST RoD

NeSL is India’s first Information Utility and is registered with the Insolvency and Bankruptcy Board of India (IBBI) under the aegis of the Insolvency and Bankruptcy Code, 2016 (IBC).

Step 1:

Record of Default (RoD) from NeSL-IU System can only be requested by Creditors who have submitted information of default as registered users of NeSL-IU.

Step 2:

Log in to URL: https://iu.nesl.co.in
Go to Reports Tab of the module.
Select “Record of Default” option > “Request Bulk Record of Default” option.
Enter the Debtor’s PAN number in the box.
The system shows names of creditors who have reported default against that Corporate Debtor.
Select the name of the Creditor & Click the “Submit” button.
On successful submission of the request, one Request ID would be generated by system and would be displayed on the screen.
Note down this “Request ID” Number.
Go to the “Download Bulk Record of Default” option.
Report (Request) ID numbers would appear on the screen.
Once the status for that Request ID appears as “Success”, the Download link is enabled by the system for requested ID.
The User can download the Zip file of the Record of Default for a particular Debtor covering various loan records.
Normally, the system takes about 10 minutes for enabling the Download Link.
The User can save the downloaded Records of Defaults and make further use of them.

LIST OF DOCUMENTS REQUIRED FOR ISSUANCE OF ROD

Indicative list of documents to be uploaded by Creditors and Debtors in respect of Regulation 21 and 21A of IBBI (IU Regulations, 2017)

BY CREDITORS:

PROOF OF DEBT

Copy of Loan Agreement & Statement of Loan / Debt.
Balance Confirmation Letter explicitly specifying the debt.
Copy of Order (or) Decree (or) Recovery Certificate passed by a Court or Tribunal regarding the debt.

PROOF OF DEFAULT

Loan Recall Notice (or) Notice u/s 13(2) of SARFAESI Act with proof of delivery.
Order declaring the Debtor as a Wilful Defaulter (or) the account as a fraud.
Notice in relation to OTS Proposal with proof of delivery.

BY DEBTORS:

EVIDENCE OF DISPUTE

Petition / Plaint / Counter-claim in relevant legal proceedings filed / instituted prior to the date of default.
Relevant letter to Creditor specifically disputing the debt, which is issued prior to the date of default.

NeSL is India’s first Information Utility and is registered with the Insolvency and Bankruptcy Board of India (IBBI) under the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC).