IBC 216 — Rights and obligations of persons submitting financial information

Insolvency & Bankruptcy Code, 2016

Statutory text

(1)  A  person  who intends to update or modify or rectify errors in the financial information submitted under section 215, he

may  make an  application  to  the  information  utility  for  such  purpose  stating  reasons  therefor,  in  such manner and within such time, as may be specified.
(2)  A  person  who  submits  financial  information  to  an  information  utility  shall  not  provide  such information to any other person, except to such extent, under such circumstances, and in such manner, as may be specified.

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