Section – 37 of Insolvency and Bankruptcy Code 2016

By | December 11, 2016
(Last Updated On: December 11, 2016)

Section – 37 of Insolvency and Bankruptcy Code 2016

[ Comes into Force w.e.f 15.12.2016 vide Notification No S.O. 3687(E) Dated 09.12.2016 ]

Powers of Liquidator to access information.

37. (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.

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