The registration will be valid for five years, an official release said.
IU stores financial information that helps to establish defaults as well as verify claims expeditiously and thereby facilitates completion of transactions under the Insolvency and Bankruptcy Code, 2016 in a time bound manner. It constitutes a key pillar of the insolvency and bankruptcy ecosystem, the other three being the Adjudicating Authority (National Company Law Tribunal and Debt Recovery Tribunal), the IBBI and Insolvency Professionals.
NeSL becomes the first IU registered by the IBBI.
The other Independent Directors include Nivedita Haran, Prof. S. Sadagopan, Ajay N. Shah and T.S. Vishwanath.
Sekar Karnam, Gurpreet Singh Chawla and P. Sanker will be Directors while S. Ramann will be the Managing Director.
NeSL has appointed G.M. Srinivasa Bhat as Compliance Officer.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
About VDC
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.