Net4India: A Ticking Time Bomb
Net4India is a Microsoft gold partner company. However, as things turned out, it renders little to no meaning. Net4India started in 1985 as an Internet Service Provider or ISP. Later down the line, Net4India transformed into a domain registrar like GoDaddy.
Net4India is the country’s biggest net domain registry company, and hundreds and thousands of users have booked “.com” and “.net” domain names using its service. Up until 2011, Net4India raked in a good profit. However, trouble started a few years later when Net4India took out several massive loans from Edelweiss Asset Reconstruction Company and defaulted on it.
As a result, Edelweiss decided to sue Net4India to get its money back in March of 2019. Furthermore, in 2002, Net4India received a loan from the State Bank of India, which after several enhancements, became a Non-Performing Asset (NPA) and SBI sold this debt to Edelweiss.
Edelweiss then filed an application under section 7 of the Insolvency and Bankruptcy Code (IBC). Overseeing the entire matter, the National Company Law Tribunal or NCLT, which registers companies, appointed Mr Vikram Bajaj as a resolution professional.
However, Mr Bajaj denied the news that Net4India is closing its doors. In an email to Moneylife, he said that the committee of creditors had proposed a resolution plan that involves a change in management at Net4India and has been brought to the NCLT’s attention as well. Once approved, things will be fine and dandy at the Net4India.
In 2019, the ICANN, the internet corporation which assigns names and numbers to domain names, suspended Net4India’s ability to create new domain names and began the process of inbound transfer.
The case of Net4India is a tragic one and, from its looks, reeks of management inefficiencies. The troubles at the company are ongoing; however, now users can reach out with their complaints at an NCLT designated helpline number – +919650821618 – and ask for one Mr Pankaj Shukla. Users can email him on – firstname.lastname@example.org – as well.
As India moves towards the digital age, it is increasingly becoming clear that a rock-solid infrastructure is not just important but a prerequisite.
Steps For Domain Transfer
While the official procedures continue in the background the customers whose businesses are stuck online are left without any resolution. However, there is a simple solution to get the authorisation code for domain transfer and it is as follows –
- Send an email to email@example.com, firstname.lastname@example.org, email@example.com, firstname.lastname@example.org for a transfer and auth code request from the registered email address.
- For transfer requests, you can submit the following documents:
a.) In case of Individual
- Domain name of the registrant.
- Self-attested ID & Address proof of registrant.
- Contact No. & Contact E-Mail ID of registrant in the e-mail text body.
- Send email from registered email ID for transferring of Domain from one registrar to another
b.) In the case of Company
- Request letter on letterhead signed by an authorized signatory for transferring of Domain from one registrar to another registrar.
- ID proof of authorized signatory.
- Company’s legal entity proof.
- Contact No. & Contact email ID in the email text body
All these documents self-attested by the authorized signatory of the respective domain
- After all the legal verification nixi will send the auth code and unlock the domain for transfer. You can more clarification here – https://www.registry.in/registry/images/page/Email_Net4_29012021.pdf
With these steps hopefully one can get their business back online and running as usual.