IBC 37 — Powers of liquidator to access information

Insolvency & Bankruptcy Code, 2016

Statutory text

(1)  Notwithstanding  anything  contained  in  any other  law  for  the  time  being  in  force,  the  liquidator  shall  have  the  power  to  access  any  information systems for the purpose of admission and proof of claims and identification of the liquidation estate assets relating to the corporate debtor from the following sources, namely:—
(a) an information utility;
(b) credit information systems regulated under any law for the time being in force;
(c) any agency of the Central, State or Local Government including any registration authorities;
(d) information systems for financial and non-financial liabilities regulated under any law for the time being in force;
(e)  information  systems  for  securities  and  assets  posted  as  security  interest  regulated  under  any law for the time being in force;
(f) any database maintained by the Board; and (g) any other source as may be specified by the Board.
(2) The creditors may require the liquidator to provide them any financial information relating to the corporate debtor in such manner as may be specified.
(3) The liquidator shall provide information referred to in sub-section (2) to such creditors who have requested  for  such  information  within  a  period  of  seven  days  from  the  date  of  such  request  or  provide reasons for not providing such information.

Back to IBC