Service commitment

IU Services Commitment

TIME NORMS FOR IU SERVICES

Nature of Service Time Norm

1) User Registration

  • 1.For Entities
  • 2.For Individuals
  • 3.Insolvency Professionals
For non-Individual categories, submission of Documents for User Registration on NeSL-IU Portal is on-line. Upon successful submission, the NeSL will scrutinize the details and approve the User Registration within 30 minutes, if the submission is made between 10.00 Hrs and 18.00 Hrs on NeSL Working Days. For submissions made outside the above working hours, approval by NeSL will happen on the next working day.

The process of registration for Individuals is online upon receipt of link from NeSL inviting the individual to verify and authenticate the financial information filed in respect of them.

  1. 2)

    Issuance of Record of Default Certificate

On Reporting of the Default by a Creditor (both Financial & Operational) NeSL-IU sends system generated intimation to the other parties to the Debt inviting them to verify and authenticate the information by affixing digital signature. This procedure is governed by IBBI (IU) Regulations. Upon completion of the procedure (minimum of 13 days), the NeSL will allow for the Creditor(s) to generate the Record of Default Certificate.
  1. 3)

    Issuance of Annual Certificate to the Registered Users

NeSL-IU will issue an Annual Statement to every Registered User, as per Reg 25 of IBBI Regulations of all information pertaining to the User at the completion of one year within a period of 15 days
  1. 4)

    Issuance of Other Certificates

NeSL-IU will issue a Certificate confirming that no record of dispute raised in relation to an operational debt has been filed by any person at IU (in applicable cases), within a period of 1 working day of receiving such a request from an Operational Creditor.

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