TIME NORMS FOR IU SERVICES

 Nature of Service  Time Norm
1. User Registration

  1. For Entities
  2. For Individuals
  3. Insolvency Professionals
Submission of Data by the intending User for User Registration on NeSL-IU Portal is on-line.On successful submission of the data by the intending User on-line, the NeSL would scrutinize the details and approve the User Registration within 30 minutes, if the submission is made between 10.00 Hrs and 18.00 Hrs on NeSL Working Days.For submissions made outside the above working hours, Approval by NeSL would happen on the next working day.
2. Issuance of Record of Default Certificate On Reporting of the Default by a Creditor (both Financial & Operational) NeSL-IU sends system generated intimation to the other parties to the Debt inviting to verify and authenticate the information by affixing digital signature & allows 15 days period.Therefore, the NeSL would be issuing Record of Default Certificate on 16th Day of sending the invitation e-mail sent for authentication.
3. Issuance of Annual Certificate to the Registered Users NeSL-IU will issue an Annual Statement to every Registered User, as per Reg 25 of IBBI Regulations of all information pertaining to the User at the completion of one year within a period of 15 days
4. Issuance of Other Certificates NeSL-IU will issue a Certificate confirming that no record of dispute raised in relation to an operational debt has been filed by any person at IU (in applicable cases), within a period of 1 working day of receiving such a request from an Operational Creditor.