The Insolvency and Bankruptcy Board of India has notified the Insolvency and Bankruptcy Board of Ind...........

Economic Affairs Public Sector Enterprises

The Insolvency and Bankruptcy Board of India has notified the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017. Which among the following are the eligibility conditions for registration as an Information Utility under the Regulation?

1.A public limited company with minimum net worth of Rs. 50 crores.

2.Control should not be with person resident outside India.

3.Person resident outside India should not hold more than 49% of its voting power or paid-up equity capital.

Code:

1 and 2

1 and 3

2 and 3

1, 2 and 3

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Explanation:

1, 2 and 3

The statement "A public limited company with a minimum net worth of Rs. 50 crores" is one of the eligibility conditions for registration as an Information Utility (IU) under the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017.

The statement "Control should not be with a person resident outside India" is another eligibility condition. This means that the control of the Information Utility should not be in the hands of a person who is a resident outside India.

The statement "A person resident outside India should not hold more than 49% of its voting power or paid-up equity capital" is also an eligibility condition. This condition ensures that the majority control remains within entities or individuals residing in India.

Therefore, the correct answer is 4 - 1, 2, and 3.

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