IBC: First information utility to be operational in 3 months

A one-stop shop for details on all financial transactions of lenders, information utilities under the insolvency and bankruptcy law are likely to be operational in next three months, a top official said.

These "unique" institutions -- governed by the Insolvency and Bankruptcy Code (IBC) -- would act as repository of information about lending and borrowing activities done by all financial institution.

"They will provide ready information for resolution professionals and courts like NCLT. It will help them save time as information would be readily available for expeditious clearance of cases," Insolvency and Bankruptcy Board of India (IBBI) Chairman M S Sahoo told

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)