National E-Governance Services Limited

Insolvency and Bankruptcy Board of India (IBBI) registered National E-Governance Services Limited (NeSL)

Question- Recently, by whom E-Governance Services Limited was registered as an information undertaking?
(a) Ministry of Information and Broadcasting
(b) Insolvency and Bankruptcy Board of India
(c) National Information Center
(d) Bombay Stock Exchange
Answer: (b)
Related Facts:

  • On 27 September 2017, The Insolvency and Bankruptcy Board of India (IBBI) registered National E-Governance Services Limited (NeSL) as an Information Utility (IU) under the IBBI (Information Utilities) Regulations, 2017.
  • This registration is valid for five years from the date of registration.
  • IU stores financial information that helps to establish defaults as well as verify claims expeditiously.
  • This facilitates completion of transactions under the Insolvency and Bankruptcy Code, 2016 in a time bound manner.
  • It constitutes a key pillar of the insolvency and bankruptcy ecosystem, the other three being the Adjudicating Authority (National Company Law Tribunal and Debt Recovery Tribunal), the IBBI and Insolvency Professionals.
  • NeSL becomes the first IU registered by the IBBI.
  • NeSL has appointed Mr. G.M. Srinivasa Bhat as Compliance Officer under regulation 11 of the IBBI (Information Utilities) Regulations, 2017.

Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=171199
http://pib.nic.in/newsite/PrintHindiRelease.aspx?relid=67365