Rights and obligations of persons submitting financial information
Section 216 of the Insolvency and Bankruptcy Code, 2016 deals with rights and obligations of persons submitting financial information. A person who intends to update or modify or rectify errors in the financial information submitted under section 215, he may make an application to the information utility for such purpose stating reasons therefor, in such manner and within such time, as may be specified. The Act was enacted on 28 May 2016.
(1) A person who intends to update or modify or rectify errors in the financial information submitted under section 215, he may make an application to the information utility for such purpose stating reasons therefor, in such manner and within such time, as may be specified.
(2) A person who submits financial information to an information utility shall not provide such information to any other person, except to such extent, under such circumstances, and in such manner, as may be specified.
Section 216, The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016).
Cross-references
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This section refers to
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Questions about Section 216
What does Section 216 of the Insolvency and Bankruptcy Code deal with?
Section 216 of the Insolvency and Bankruptcy Code is headed "Rights and obligations of persons submitting financial information". A person who intends to update or modify or rectify errors in the financial information submitted under section 215, he may make an application to the information utility for such purpose stating reasons therefor, in such manner and within such time, as may be specified.
How do I find court cases under Section 216 of the Insolvency and Bankruptcy Code?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Insolvency and Bankruptcy Code 216, section 216 Insolvency and Bankruptcy Code, section 216 of the Insolvency and Bankruptcy Code. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 216 of the Insolvency and Bankruptcy Code, and has it changed?
Its own text turns on section 215 (Procedure for submission, etc., of financial information), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it. The rules and notifications made under it are where it actually bites, and there is one: most recently Commencement of Section for Voluntary Liquidation (S-59) and Information Utilities (209-2016) And S-234, 235 (Agreement with foreign Countries) under IBC, 2016 (2017).
When was Section 216 of the Insolvency and Bankruptcy Code enacted?
Section 216 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 216, was enacted on 28 May 2016 as Act 31 of 2016. It is in force as at the date shown on this page.
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Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 20 Oct 2026. This page is not a substitute for legal advice.