Acceptance and receipt of information

(1) An information utility shall accept information submitted by a user in 25[such format as notified by the Board through circular]. 26[(1A) Before filing an application to initiate corporate insolvency resolution process under section 7 or 9, as the case may be, the creditor shall file the information of default, with the information utility and the information utility shall process the information for the purpose of issuing record of default in accordance with regulation 21.] (2) On receipt of the information submitted under sub-regulation (1) 27[or sub- regulation (1A), as the case may be], the information utility shall- (a) assign a unique identifier to the information, including records of debt; (b) acknowledge its receipt, and notify the user of- (i) the unique identifier of the information; (ii) the terms and conditions of authentication and verification of information; and (iii) the manner in which the information may be accessed by other parties. 25 Substituted by Notification No. IBBI/2026-27/GN/REG146, dated 01st June, 2026 (w.e.f. 02-06-2026). Before substitution, the words stood as under: - “Form C of the Schedule”. 26 Inserted by Notification No. IBBI/2022-23/GN/REG085, dated 14th June, 2022 (w.e.f. 14-06-2022). 27 Inserted by Notification No. IBBI/2022-23/GN/REG085, dated 14th June, 2022 (w.e.f. 14-06-2022).