https://www.taxtmi.com/manuals?id=5539 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. en-us Tue, 22 Oct 2024 15:28:00 +0530 Tue, 22 Oct 2024 15:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=5539 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. Manuals Insolvency and Bankruptcy Tue, 22 Oct 2024 15:28:00 +0530 https://www.taxtmi.com/manuals?id=5539