IBBI amends Guidelines on Technical Standards for Performance of Core Services under IBBI Regulations

IBBI - guidelines on Technical Standards - performance of core services - IBBI Regulations - Taxscan

The Insolvency and Bankruptcy Board of India (IBBI) on Monday notified the Guidelines for Technical Standards for the Performance of Core Services and Other Services (Amendment), 2021 under the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017.

The amendment defines the term “Identity Details” which means C-KYC number in the C-KYC database maintained by CERSAI or identification number of any OVD of a person who is a resident of India.

OVD includes Permanent Account Number (PAN) Card, Passport, Driving License, Voter’s Identity Card issued by Election Commission of India and Aadhaar letter/card or the e-Aadhaar (an electronically generated letter from the website of UIDAI), as the case may be.

The Registration process shall be completed with PAN (legal entity) and PAN or CKYC number (individual), in the absence of PAN or C–KYC number any other ID shall be used. A Unique Identification Number (UIN) by the IU shall be assigned to all the registered users in accordance with these Guidelines. An ID once used in the registration process, will be taken on record and the same shall be used for all future access to IU services.

In the principal guidelines, in clause 2.2, under the heading “Technical Standards on Regulation 13(2) (d)” for sub–clause 1, the sub– clause shall be substituted namely Aadhaar number shall not be used as an UIN. The UIN shall be assigned for different categories of users in the specified manner namely PAN or CKYC number for an individual and in the absence of PAN or C–KYC number, any other ID number shall be UIN; PAN number for all legal entities; and  For a government department or any other agency that does not have PAN or an individual or a legal entity or a foreign entity that has not been issued an ID, IU may issue UIN based on an alternative number assigned by any other authority, wherever available. Where such an alternative identifier is not available, UIN shall be issued by the IU, starting with IU code (1 character), indicator for type of person (1 character), followed by 8 alphanumeric characters.

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