https://www.taxtmi.com/caselaws?id=435345 The High Court held that Non-Banking Financial Corporations (NBFCs) regulated by the RBI are not subject to State enactments like the Andhra Pradesh and Telangana Micro Finance Institutions Acts, similar to the Kerala and Gujarat Acts. The Court emphasized the RBI's supervisory role over NBFCs, making State laws redundant in protecting borrowers' interests. Consequently, NBFCs in Andhra Pradesh and Telangana registered with the RBI are exempt from the two State Acts. The writ petitions were disposed of in line with the Supreme Court's precedent, with no costs awarded. en-us Tue, 14 Feb 2023 00:00:00 +0530 Fri, 17 Mar 2023 21:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435345 The High Court held that Non-Banking Financial Corporations (NBFCs) regulated by the RBI are not subject to State enactments like the Andhra Pradesh and Telangana Micro Finance Institutions Acts, similar to the Kerala and Gujarat Acts. The Court emphasized the RBI's supervisory role over NBFCs, making State laws redundant in protecting borrowers' interests. Consequently, NBFCs in Andhra Pradesh and Telangana registered with the RBI are exempt from the two State Acts. The writ petitions were disposed of in line with the Supreme Court's precedent, with no costs awarded. Case-Laws Indian Laws Tue, 14 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435345