https://www.taxtmi.com/caselaws?id=785995 An insolvency petition under Section 7 was held maintainable because the corporate debtor ceased to be a financial service provider upon cancellation of its NBFC registration, removing the exclusion from the definition of corporate person. The tribunal found that the cancellation effective 18.09.2018 meant the exclusion did not apply when the petition was filed; accordingly the adjudicating authority's admission of the Section 7 application after finding debt and default was upheld and the appeal against admission was dismissed. en-us Wed, 21 Jan 2026 00:00:00 +0530 Wed, 04 Feb 2026 08:24:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785995 An insolvency petition under Section 7 was held maintainable because the corporate debtor ceased to be a financial service provider upon cancellation of its NBFC registration, removing the exclusion from the definition of corporate person. The tribunal found that the cancellation effective 18.09.2018 meant the exclusion did not apply when the petition was filed; accordingly the adjudicating authority's admission of the Section 7 application after finding debt and default was upheld and the appeal against admission was dismissed. Case-Laws IBC Wed, 21 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785995