Section 210 in The Insolvency and Bankruptcy Code, 2016

Title: Registration of information utility.

Description: (1) Every application for registration shall be made to the Board in such form and manner, containing such particulars, and accompanied by such fee, as may be specified by regulations: Provided that every application received by the Board shall be acknowledged within seven days of its receipt. (2) On receipt of the application under sub-section (1), the Board may, on being satisfied that the application conforms to all requirements specified under sub-section (1), grant a certificate of registration to the applicant or else, reject, by order, such application. (3) The Board may issue a certificate of registration to the applicant in such form and manner and subject to such terms and conditions as may be specified. (4) The Board may renew the certificate of registration from time to time in such manner and on payment of such fee as may be specified by regulations. (5) The Board may, by order, suspend or cancel the certificate of registration granted to an information utility on any of the following grounds, namely:— (a) that it has obtained registration by making a false statement or misrepresentation or any other unlawful means; (b) that it has failed to comply with the requirements of the regulations made by the Board; (c) that it has contravened any of the provisions of the Act or the rules or the regulations made thereunder; (d) on any other ground as may be specified by regulations: Provided that no order shall be made under this sub-section unless the information utility concerned has been given a reasonable opportunity of being heard: Provided further that no such order shall be passed by any member except whole-time members of the Board.

Title: Appeal to National Company Law Appellate Tribunal.

Description: Any information utility which is aggrieved by the order of the Board made under section 210 may prefer an appeal to the National Company Law Appellate Tribunal in such form, within such period, and in such manner, as may be specified by regulations.

Title: Governing Board of information utility.

Description: The Board may, for ensuring that an information utility takes into account the objectives sought to be achieved under this Code, require every information utility to set up a governing board, with such number of independent members, as may be specified by regulations.

Title: Core services, etc., of information utilities.

Description: An information utility shall provide such services as may be specified including core services to any person if such person complies with the terms and conditions as may be specified by regulations.

Title: Obligations of information utility.

Description: For the purposes of providing core services to any person, every information utility shall— (a) create and store financial information in a universally accessible format; (b) accept electronic submissions of financial information from persons who are under obligations to submit financial information under sub-section (1) of section 215, in such form and manner as may be specified by regulations; (c) accept, in specified form and manner, electronic submissions of financial information from persons who intend to submit such information; (d) meet such minimum service quality standards as may be specified by regulations; (e) get the information received from various persons authenticated by all concerned parties before storing such information; (f) provide access to the financial information stored by it to any person who intends to access such information in such manner as may be specified by regulations; (g) publish such statistical information as may be specified by regulations; (h) have inter-operatability with other information utilities.