The Insolvency and Bankruptcy Board of India (IBBI) on July 26, 2021 has issued a notification to amend the guidelines for technical standards for core services and other services under the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017.
The amendments are as followed:
• Clause 2.2, which specifies Technical Standards on Regulation 13(2) (d) for sub-clause 1, has been substituted namely:
“1. Aadhaar number shall not be used as an UIN. The UIN shall be assigned for different categories of users in the following manner:-
(a) PAN or CKYC number for an individual and in the absence of PAN or C-KYC number, any other ID number shall be UIN;
(b) PAN number for all legal entities; and
(c) For a government department or any other agency that does not have PAN or an individual or a legal entity or a foreign entity that has not been issued an ID, IU may issue UIN based on an alternative number assigned by any other authority, wherever available. Where such alternative identifier is not available, UIN shall be issued by the IU, starting with IU code (1 character), indicator for type of person (1 character), followed by 8 alphanumeric characters.”
• Clause 2.3, under the heading “Technical Standards on Regulation 13(2) (e)” sub-clause (3) has been substituted, namely:
“(3) Submission of supporting documents: Documents can be submitted at any time, not necessarily along with Form C data submission. Such documents should support multiple formats including PDF and scanned image files. All document submissions must be made under digital signature of the submitter, with digital stamping where required:
a. Each supporting document for debt shall have a unique identifier reference;
b. Each supporting document for security shall have security identifier reference; and
c. While accepting and storing digital documents, IU may facilitate digital stamping of the document, in accordance with relevant rules in this respect.”
• Clause 2.4, under the heading “Technical Standards on Regulation 13(2) (g) & 13(2) (h)” in sub-clause 9, item (c), has been substituted, namely:
“Expired: If the specified time limit of 15 days from successful delivery of intimation is exceeded or an updated submission of the same UDI is received, whichever is later.”
