NCLT/NCLAT Cases Must Be Reported as Suit-Filed to CICs
Current · Source: Reserve Bank of India · RBI/2022-23/154 · issued 13 Dec 2022 · ~1 min read
Quick answerRBI mandates that all cases admitted under IBC at NCLT/NCLAT be reported as suit-filed accounts to Credit Information Companies. Banks must update their reporting systems by February 28, 2023.
Banks must update their reporting systems by February 28, 2023.
Banks must train credit reporting teams on the new classification by February 28, 2023.
How it plays out — a real example
A credit & lending officer in Indore, Mr. Kumar, has to report a case to the Credit Information Company. The borrower's company has been admitted to NCLT/NCLAT under the Insolvency and Bankruptcy Code. Mr. Kumar ensures that the case is reported as suit-filed, which will impact the borrower's creditworthiness. He updates the reporting system and trains his team on the new classification by the deadline.
What changed
RBI clarified that accounts admitted to NCLT/NCLAT under the Insolvency and Bankruptcy Code must be reported as suit-filed cases to Credit Information Companies.
What it means for you
Banks and lenders must now tag NCLT/NCLAT-admitted accounts as suit-filed in their credit information submissions, ensuring CICs reflect the legal status accurately. This impacts credit scoring and risk assessment for borrowers undergoing insolvency, potentially lowering their creditworthiness.
What you must do
Update your credit reporting systems to classify NCLT/NCLAT-admitted IBC cases as suit-filed accounts.
Train credit reporting teams on the new classification by February 28, 2023.
Ensure implementation of this circular by February 28, 2023.
Who it affects
All Commercial Banks including Small Finance Banks, Local Area Banks, RRBs, Primary Urban Co-operative Banks, State Co-operative Banks, DCCBs, All-India Financial Institutions (Exim Bank, NABARD, NHB, SIDBI, NaBFID), All NBFCs including Housing Finance Companies, All Credit Information Companies
❓ Common questions
What is the key change in this circular?
RBI clarified that cases admitted under IBC at NCLT/NCLAT must be reported as suit-filed accounts to Credit Information Companies, effective from the implementation date.
By when must banks implement this change?
The circular must be implemented by February 28, 2023.
Does this affect all types of lenders?
Yes, it applies to all commercial banks, cooperative banks, NBFCs, housing finance companies, and all-India financial institutions.
📜 Read the original circular — full text as issued by RBI
RBI/2022-23/154
DoR.FIN.REC.90/20.16.056/2022-23
December 13, 2022
All Commercial Banks (including Small Finance Banks, Local Area Banks and Regional Rural Banks)
All Primary (Urban) Co-operative Banks/State Co-operative Banks/District Central Co-operative Banks
All-India Financial Institutions (Exim Bank, NABARD, NHB, SIDBI and NaBFID)
All Non-Banking Financial Companies (including Housing Finance Companies)
All Credit Information Companies
Madam/Dear Sir,
Data Format for Furnishing of Credit Information to Credit Information Companies and other Regulatory Measures
Please refer to the circular DBOD.No.CID.BC.127/20.16.056/2013-14 dated June 27, 2014 , inter alia setting out a Uniform Credit Reporting Format for reporting credit information to the Credit Information Companies (CICs).
2. It is clarified that cases admitted with National Company Law Tribunal (NCLT)/National Company Law Appellate Tribunal (NCLAT) under the Insolvency and Bankruptcy Code, 2016 are also required to be reported under the suit-filed cases in reporting to the CICs.
3. Credit Institutions (CIs) shall ensure implementation of this circular latest by February 28, 2023.
Yours faithfully
(J.P. Sharma)
Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2022-23/154 · issued 13 Dec 2022. The plain-English explanation above is BankPulse’s own independent summary.
Update your credit reporting systems to classify NCLT/NCLAT-admitted IBC cases as suit-filed accounts.
📜 Compliance
Train credit reporting teams on the new classification by February 28, 2023.
Ensure implementation of this circular by February 28, 2023.
Grouped from the action items above — a single circular may involve more than one team.
Worked example & action-note template
Example: if you are an IT/Systems lead at a bank this circular applies to (All Commercial Banks including Small Finance Banks, Local Area Banks, RRBs, Primary Urban Co-operative Banks, State Co-operative Banks, DCCBs, All-India Financial Institutions (Exim Bank, NABARD, NHB, SIDBI, NaBFID), All NBFCs including Housing Finance Companies, All Credit Information Companies), your first concrete step on “NCLT/NCLAT Cases Must Be Reported as Suit-Filed to CICs” is: “Update your credit reporting systems to classify NCLT/NCLAT-admitted IBC cases as suit-filed accounts.” (RBI issued this 13 Dec 2022).
Circular: RBI/2022-23/154 -- NCLT/NCLAT Cases Must Be Reported as Suit-Filed to CICs
Issued: 13 Dec 2022
Action required: Update your credit reporting systems to classify NCLT/NCLAT-admitted IBC cases as suit-filed accounts.
Action required: Train credit reporting teams on the new classification by February 28, 2023.
Action required: Ensure implementation of this circular by February 28, 2023.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12425&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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