Section 214 of the Insolvency and Bankruptcy Code, 2016: Obligations of Information Utilities
Section 214 sets out eight statutory duties of an information utility (IU) when providing core services, including electronic recordkeeping, authentication, regulated access, service quality and interoperability.
Legal reference updated: 23 October 2026
What is an information utility?
An information utility is an entity registered with the Insolvency and Bankruptcy Board of India (IBBI) under Section 209 and regulated under the Code. Section 3(9) defines core services to include accepting electronic financial information, recording it safely and accurately, authenticating and verifying information, and providing access to stored information to persons specified by regulations.
Section 214: statutory obligations explained
For the purpose of providing core services to any person, every information utility must perform the duties in clauses (a) to (h) below. The clause descriptions retain the substance of the provision; the explanations describe their practical significance.
Clause (a): Create and store financial information in a universally accessible format.
Information must be maintained in a usable, accessible electronic format, subject to applicable access controls.
Clause (b): Accept electronic submissions from persons required to submit information under section 215(1), in the prescribed form and manner.
The utility must provide the prescribed submission mechanism for persons subject to statutory filing requirements.
Clause (c): Accept voluntary electronic submissions of financial information in the specified form and manner.
Submission facilities are not limited to compulsory filings.
Clause (d): Meet minimum service-quality standards prescribed by regulations.
Operational performance and technical standards are governed by the IBBI regulatory framework.
Clause (e): Obtain authentication of information from all concerned parties before storing it.
Authentication is a statutory safeguard. The process for verifying information and recording responses is governed by applicable regulations.
Clause (f): Provide access to stored financial information in the manner specified by regulations.
Access is regulated; the provision does not create an unrestricted public right to confidential records.
Clause (g): Publish statistical information as specified by regulations.
Publication requirements concern prescribed statistics, not unrestricted disclosure of individual records.
Clause (h): Maintain interoperability with other information utilities.
Systems should be capable of working with other utilities in accordance with applicable technical standards.
How authentication and access work
Information utilities are required to seek authentication from the concerned parties under Section 214(e). The applicable IBBI (Information Utilities) Regulations, 2017 prescribe operational processes for submission, authentication, verification, storage and access. A record's authentication status and any dispute should be understood from the applicable regulations and the actual record; submission alone should not be treated as conclusive proof that a debt is undisputed.
Section 214(f) requires access in the regulated manner. This should be read alongside confidentiality, security and user-access requirements in the IBBI framework.
Related legal provisions
Section 213 deals with the provision of core services by information utilities. Section 215 governs submission of financial information, including obligations of financial creditors and provisions for operational creditors. Section 216 addresses correction or modification of submitted information and restrictions on further disclosure. Section 217 permits complaints to the IBBI about the functioning of an information utility.
Applicable regulations and official references
The IBBI Legal Framework lists the Information Utilities Regulations, 2017, consolidated with amendments up to 2 June 2026, and subsequent relevant circulars. For the authoritative wording of the Code, consult the official IBBI publication of the Insolvency and Bankruptcy Code. For technical standards, see the IBBI guidelines directory.
Legislative status: A 2025 amendment proposal concerning authentication under Section 214(e) should not be read as enacted law merely because it appears in a Bill. Consult the latest notified legislation and regulations before relying on any proposed change.
Frequently asked questions
Can an information utility refuse electronic submissions?
It must accept submissions covered by Section 214(b) and (c), subject to the prescribed form, manner and regulatory conditions.
Must all parties authenticate the information?
Section 214(e) requires authentication by concerned parties. The detailed process and treatment of responses are governed by the applicable regulations.
Is financial information available to everyone?
No. Access is subject to the manner and conditions specified under the applicable regulations.
Where can complaints about an information utility be made?
Section 217 provides for complaints to the IBBI, subject to the prescribed complaint procedure.
Read more: The Insolvency and Bankruptcy Code, 2016.
This article provides general legal information and does not replace the official statutory text or case-specific professional advice.