The Insolvency and Bankruptcy Board of India (IBBI) on April 15, 2026, issued the Discussion Paper on Amendments to Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017.
The following has been stated:
• The Discussion Paper on Amendments to IBBI (Information Utilities) Regulations, 2017 (2026) proposes changes to strengthen the role of Information Utilities (IUs) under the Insolvency and Bankruptcy Code (IBC). It highlights that reliable and authenticated financial information is essential for timely insolvency resolution, and recent amendments to Sections 214 and 215 of the Code aim to improve the authentication of debt data.
• The paper proposes aligning regulations with the amended law by empowering IBBI to specify the manner of authentication, mandating operational creditors to submit financial information before initiating insolvency, and requiring debtors to authenticate such information within a prescribed time, failing which it will be deemed authenticated.
• Further, the paper introduces key regulatory changes:
o (i) replacing narrow terminology like “bank” with broader “financial institution” to remove inconsistencies;
o (ii) introducing a new concept of “Information of Dispute (IoD)” alongside the existing “Record of Default (RoD)” to clearly distinguish disputed debts from authenticated defaults and improve transparency; and
o (iii) allowing forms to be issued via circulars instead of being fixed in regulations to enhance flexibility and ease of compliance.
