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            Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

            Provisions expressly mentioned in the judgment/order text.

            <h1>Financial Service Provider classification excludes SEBI registered brokers from insolvency petitions, challenging their admissibility under the Code.</h1> SEBI-registered stock brokers and sub-brokers are Financial Service Providers under the Insolvency and Bankruptcy Code, regulated by a financial sector regulator and subject to SEBI obligations. Section 5(8)(g) on derivative valuation must be read with other definitional provisions and does not extend Section 7 insolvency petitions to cover Financial Service Providers; reliance on that provision to admit a Section 7 petition against such a broker was held to be a misconstruction rendering the initiation nonmaintainable.

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