The Insolvency and Bankruptcy Board of India (IBBI) today said National E-Governance Services Ltd (NeSL) has been registered as the first information utility under it.
The registration of NeSL would be valid for five years.
"NeSL becomes the first information utility registered by the IBBI," an official release said today.
The IBBI -- which is implementing the Insolvency and Bankruptcy Code -- has registered NeSL under the Information Utilities Regulations.
Information utilities store financial information to help establish defaults and verify claims expeditiously in order to complete transactions under the Code in a time-bound manner.
State Bank of India, Canara Bank and Bank of Baroda have 10 per cent stake each in NeSL while ICICI Bank and Axis Bank hold 9.9 per cent and 9.5 per cent, respectively.
Life Insurance Corporation and Karnataka Bank own 6 per cent stake each in the information utility.
Others among the 17 shareholders include HDFC, Punjab National Bank, Union Bank of India, Axis Bank and NABARD.
Disclaimer: No Business Standard Journalist was involved in creation of this content
