{"id":160464,"date":"2017-09-29T12:00:44","date_gmt":"2017-09-29T06:30:44","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=160464"},"modified":"2017-09-29T12:00:44","modified_gmt":"2017-09-29T06:30:44","slug":"national-e-governance-services-ltd-registered-as-an-information-utility-under-the-ibbi-information-utilities-regulations-2017","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2017\/09\/29\/national-e-governance-services-ltd-registered-as-an-information-utility-under-the-ibbi-information-utilities-regulations-2017\/","title":{"rendered":"National E-Governance Services Ltd. registered as an Information Utility under the IBBI (Information Utilities) Regulations, 2017"},"content":{"rendered":"

The Insolvency and Bankruptcy Board of India (IBBI) registered National E-Governance Services Limited (NeSL) as an Information Utility (IU) under the IBBI (Information Utilities) Regulations, 2017. This registration is valid for five years from the date of registration.<\/p>\n

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.<\/p>\n

NeSL becomes the first IU registered by the IBBI. According to the information submitted for registration, its Board of Directors comprises:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
Sl. No.<\/strong><\/td>\nName and Profession of Director<\/strong><\/td>\nPosition<\/strong><\/td>\n<\/tr>\n
1<\/td>\nMr. N. Rangachary<\/td>\nIndependent Director and Chairman<\/td>\n<\/tr>\n
2<\/td>\nDr. Nivedita Haran<\/td>\nIndependent Director<\/td>\n<\/tr>\n
3<\/td>\nProf. S. Sadagopan<\/td>\nIndependent Director<\/td>\n<\/tr>\n
4<\/td>\nDr. Ajay N. Shah<\/td>\nIndependent Director<\/td>\n<\/tr>\n
5<\/td>\nMr. T.S. Vishwanath<\/td>\nIndependent Director<\/td>\n<\/tr>\n
6<\/td>\nMr. Sekar Karnam<\/td>\nDirector<\/td>\n<\/tr>\n
7<\/td>\nMr. Gurpreet Singh Chawla<\/td>\nDirector<\/td>\n<\/tr>\n
8<\/td>\nMr. P. Sanker<\/td>\nDirector<\/td>\n<\/tr>\n
9<\/td>\nMr. S. Ramann<\/td>\nManaging Director<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The shareholding pattern of the NeSl as on the date of registration is as under:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Sl. No.<\/strong><\/td>\nName of Shareholder<\/strong><\/td>\nPercentage of Shareholding<\/strong><\/td>\n<\/tr>\n
1<\/td>\nLife Insurance Corporation of India<\/td>\n6%<\/td>\n<\/tr>\n
2<\/td>\nState Bank of India<\/td>\n10%<\/td>\n<\/tr>\n
3<\/td>\nCanara Bank<\/td>\n10%<\/td>\n<\/tr>\n
4<\/td>\nBank of Baroda<\/td>\n10%<\/td>\n<\/tr>\n
5<\/td>\nICICI Bank Ltd.<\/td>\n9.9%<\/td>\n<\/tr>\n
6<\/td>\nAxis Bank Ltd.<\/td>\n9.5%<\/td>\n<\/tr>\n
7<\/td>\nKarnataka Bank Ltd.<\/td>\n6%<\/td>\n<\/tr>\n
8<\/td>\nHDFC<\/td>\n5%<\/td>\n<\/tr>\n
9<\/td>\nIndian Bank<\/td>\n5%<\/td>\n<\/tr>\n
10<\/td>\nPunjab National Bank<\/td>\n5%<\/td>\n<\/tr>\n
11<\/td>\nNew India Assurance Company Ltd.<\/td>\n5%<\/td>\n<\/tr>\n
12<\/td>\nUnion Bank of India<\/td>\n5%<\/td>\n<\/tr>\n
13<\/td>\nCentral Depository Services (India) Ltd.<\/td>\n4%<\/td>\n<\/tr>\n
14<\/td>\nDena Bank<\/td>\n4%<\/td>\n<\/tr>\n
15<\/td>\nNABARD<\/td>\n2%<\/td>\n<\/tr>\n
16<\/td>\nUnited India Insurance<\/td>\n2%<\/td>\n<\/tr>\n
17<\/td>\nSIDBI<\/td>\n1.6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

NeSL has appointed Mr. G.M. Srinivasa Bhat as Compliance Officer under Regulation 11 of the IBBI (Information Utilities) Regulations, 2017.<\/p>\n

Ministry of Corporate Affairs<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The Insolvency and Bankruptcy Board of India (IBBI) registered National E-Governance Services Limited (NeSL) as an Information Utility (IU) under the IBBI <\/p>\n","protected":false},"author":91,"featured_media":160494,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1188,2],"tags":[],"class_list":["post-160464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot_off_the_press","category-news"],"yoast_head":"\nNational E-Governance Services Ltd. registered as an Information Utility under the IBBI (Information Utilities) Regulations, 2017 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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