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NeSL has records of two-thirds of loans given by lenders, creditors

NeSL has data from banks, non-banking finance companies, mutual funds and insurance companies

Veena Mani  |  New Delhi 

Personal loans account for 96% of new bank loans during FY18: RBI data
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More than a year after it was set up under the Insolvency and Bankruptcy Code (IBC), the country’s first information utility (IU) now has records of two-thirds of all given by lenders and operational creditors.

(NeSL) plans to get the that are not registered with it on board by the end of this month so that it has a record of all the

This would assist in resolving any dispute that insolvent companies have with the lenders. The information utility has data verified by the debtor company. National Company Law Tribunal (NCLT) President M M Kumar had written to all NCLTs that creditor petition must contain records from the information utility. This was done to avoid delays on account of contest by debtors. In the past, there have been cases where debtor companies have contested the figures of unpaid loan amount given by lenders in NCLT.

has data from banks, non-banking finance companies, mutual funds and Apart from financial creditors, operational creditors can also submit information about their to firms.

First Published: Sat, February 09 2019. 01:01 IST
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