https://www.taxtmi.com/caselaws?id=368947 A financial service provider, including a non-banking financial company registered with the Reserve Bank of India, is excluded from the definition of corporate person under the Insolvency and Bankruptcy Code, 2016. Because the company was engaged in financial services and held RBI registration, it could not be treated as a corporate debtor for Section 7 proceedings. The insolvency framework was therefore inapplicable to it, and an application under Section 7 was not maintainable against the company. en-us Tue, 18 Sep 2018 00:00:00 +0530 Wed, 17 Oct 2018 07:43:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368947 A financial service provider, including a non-banking financial company registered with the Reserve Bank of India, is excluded from the definition of corporate person under the Insolvency and Bankruptcy Code, 2016. Because the company was engaged in financial services and held RBI registration, it could not be treated as a corporate debtor for Section 7 proceedings. The insolvency framework was therefore inapplicable to it, and an application under Section 7 was not maintainable against the company. Case-Laws Insolvency and Bankruptcy Tue, 18 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368947