Section 5(8) in Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017
(8)The order rejecting an application for renewal of registration shall require the information utility to-(a)discharge any pending obligations;(b)continue its functions till such time as may be directed, to enable its users to transfer information stored with it to another information utility; and(c)comply with any other directions as considered appropriate.
