Mumbai, September 26: India’s first information utility (IU), a one-stop shop for details on all financial transactions of lenders, information utilities under the insolvency and bankruptcy, has got a go-ahead. On Tuesday, the Insolvency and Bankruptcy Board of India (IBBI) granted it a renewal registration from September 25, 2017 to September 24, 2022.
S Ramann, IAAS in the rank of Additional Secretary and Former Executive Director of SEBI, is Managing Director and Chief Executive Officer of NeSL. IBBI Chairman M S Sahoo, a former SEBI official, had announced recently that setting up of an IU will be a game changer in the market. Finance Minister Arun Jaitley has also been asking the industry and IBBI to implement bankruptcy law in a time-bound manner.
