NeSL has records of two-thirds of loans given by lenders, creditors

NeSL has data from banks, non-banking finance companies, mutual funds and insurance companies

More than a year after it was set up under the Insolvency and Bankruptcy Code (IBC), the country’s first information utility (IU) NeSL now has records of two-thirds of all loans given by lenders and operational creditors.

National e-Governance Services (NeSL) plans to get the banks that are not registered with it on board by the end of this month so that it has a record of all the loans.

This would assist in resolving any dispute that insolvent companies have with the lenders. The information utility has data verified by the debtor company. National Company Law Tribunal (NCLT) President M M