Section 213: Core Services of Information Utilities under the IBC, 2016
Section 213 establishes the duty of an information utility to offer prescribed services, including core services, to persons who satisfy the applicable regulatory terms and conditions.
Text of Section 213
213. Core services, etc., of information utilities. - An information utility shall provide such services as may be specified including core services to any person if such person complies with the terms and conditions as may be specified by regulations.
The provision is part of the statutory framework governing information utilities under the Insolvency and Bankruptcy Code, 2016. Its practical operation must be read with the IBBI (Information Utilities) Regulations, 2017, as amended.
Meaning and scope of Section 213
An information utility is a person registered with the Insolvency and Bankruptcy Board of India (IBBI) under Section 210. Section 213 addresses the services such a registered utility must provide. The obligation is subject to compliance by the service seeker with the conditions specified in regulations; it is not an unrestricted right to obtain another person's confidential financial records.
What are core services under Section 3(9)?
Section 3(9) defines core services as services for:
- Accepting electronic submission of financial information.
- Safe and accurate recording of financial information.
- Authenticating and verifying financial information.
- Providing access to financial information stored with the information utility to persons as may be specified.
These functions support a reliable electronic record of debt and default information for use in insolvency and bankruptcy proceedings, subject to applicable legal and regulatory safeguards.
What counts as financial information?
Section 3(13) describes financial information in relation to a person, including records of debts, liabilities when solvent, assets over which security interests have been created, instances of default, balance sheets and cash-flow statements, and other prescribed information.
Section 214: Obligations of information utilities
Section 214 complements Section 213 by requiring information utilities, for the purpose of providing core services, to perform specified functions:
| Provision | Key obligation |
|---|---|
| Section 214(a) | Create and store financial information in a universally accessible format. |
| Section 214(b)-(c) | Accept electronic submissions from persons required or wishing to submit financial information, in the prescribed manner. |
| Section 214(d) | Meet prescribed minimum service-quality standards. |
| Section 214(e) | Obtain authentication of received information from concerned parties before storage, as prescribed. |
| Section 214(f) | Provide access to stored information in the manner specified by regulations. |
| Section 214(g)-(h) | Publish prescribed statistical information and maintain interoperability with other information utilities. |
Submission and authentication under Sections 215 and 216
Section 215 deals with submission of financial information. Financial creditors are required to submit prescribed financial information and information relating to assets over which security interests have been created; operational creditors may submit financial information in the prescribed manner. Section 216 provides for a person intending to update or modify information to apply to the information utility in the specified manner.
Authentication and verification procedures, access controls, technical standards, and related operational requirements are governed by the applicable IBBI regulations and guidelines. The legal treatment of a record may depend on its authentication status and the facts of the proceeding.
Applicable IBBI regulations and updates
The IBBI (Information Utilities) Regulations, 2017 set out the regulatory framework for information utility services, users, submission and authentication of financial information, and service standards. The IBBI legal framework lists a consolidated version amended up to June 2, 2026, together with an Information Utilities amendment dated June 2, 2026 and a formats circular dated June 3, 2026.
For the current operative text and prescribed forms, consult the official IBBI legal framework and IBBI circulars. Technical standards are also published through the IBBI guidelines directory.
Why Section 213 matters
Information utilities provide a structured mechanism for creditors, debtors and authorised users to submit, verify and retrieve financial information. Such records can help establish the existence of financial obligations and identify disputed or acknowledged defaults, but do not by themselves eliminate the need for adjudication where legally required.
Official legal sources and further reading
- Insolvency and Bankruptcy Code, 2016 - IBBI statutory text
- IBBI legal framework and updated Information Utilities Regulations
- Technical standards and guidelines for information utilities
- Insolvency and Bankruptcy Board of India - official website
- The Insolvency and Bankruptcy Code, 2016 - LawDadi index
Last reviewed: October 23, 2026. This article is general legal information and is not a substitute for the applicable statutory text or professional advice.