https://www.taxtmi.com/caselaws?id=767049 The NCLAT set aside admission of the Section 7 insolvency application and remanded the matter because the appellant's asserted NBFC status and its effect on maintainability were not properly tested on evidence. Conflicting material existed on the registration status, and the appellate record was insufficient to finally determine whether the appellant fell within the statutory position governing financial service providers. The adjudicating authority was directed to examine the factual and legal effect of NBFC status before deciding maintainability of the Section 7 proceedings. en-us Thu, 06 Mar 2025 00:00:00 +0530 Mon, 10 Mar 2025 08:42:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767049 The NCLAT set aside admission of the Section 7 insolvency application and remanded the matter because the appellant's asserted NBFC status and its effect on maintainability were not properly tested on evidence. Conflicting material existed on the registration status, and the appellate record was insufficient to finally determine whether the appellant fell within the statutory position governing financial service providers. The adjudicating authority was directed to examine the factual and legal effect of NBFC status before deciding maintainability of the Section 7 proceedings. Case-Laws IBC Thu, 06 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767049