https://www.taxtmi.com/caselaws?id=387818 The Tribunal dismissed the petition seeking initiation of Corporate Insolvency Resolution Process (CIRP) against a Non-Banking Financial Company (NBFC) under Section 7 of the Insolvency & Bankruptcy Code, 2016. It held that the NBFC, registered by the Reserve Bank of India (RBI), fell outside the purview of the Code as a financial service provider. Emphasizing the exclusion of financial service providers from the IBC, the Tribunal declined to entertain the petition, citing regulatory authority's role in overseeing compliance with financial regulations and the impact on the NBFC's operations as a going concern. en-us Tue, 27 Aug 2019 00:00:00 +0530 Sat, 02 Nov 2019 11:45:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387818 The Tribunal dismissed the petition seeking initiation of Corporate Insolvency Resolution Process (CIRP) against a Non-Banking Financial Company (NBFC) under Section 7 of the Insolvency & Bankruptcy Code, 2016. It held that the NBFC, registered by the Reserve Bank of India (RBI), fell outside the purview of the Code as a financial service provider. Emphasizing the exclusion of financial service providers from the IBC, the Tribunal declined to entertain the petition, citing regulatory authority's role in overseeing compliance with financial regulations and the impact on the NBFC's operations as a going concern. Case-Laws Insolvency and Bankruptcy Tue, 27 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387818