https://www.taxtmi.com/caselaws?id=382942 A registered non-banking financial company under RBI authorisation can fall within the exclusion for a financial service provider under the Insolvency and Bankruptcy Code, because the definition of financial service is inclusive and is not limited to acceptance of public deposits. On that interpretation, such an entity is outside the definition of corporate person for a Section 7 insolvency petition. Alleged non-compliance with RBI conditions was held irrelevant to maintainability. The Section 7 application was therefore not maintainable against the respondent. en-us Wed, 10 Jul 2019 00:00:00 +0530 Sat, 03 Aug 2019 10:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382942 A registered non-banking financial company under RBI authorisation can fall within the exclusion for a financial service provider under the Insolvency and Bankruptcy Code, because the definition of financial service is inclusive and is not limited to acceptance of public deposits. On that interpretation, such an entity is outside the definition of corporate person for a Section 7 insolvency petition. Alleged non-compliance with RBI conditions was held irrelevant to maintainability. The Section 7 application was therefore not maintainable against the respondent. Case-Laws Insolvency and Bankruptcy Wed, 10 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382942