NBFCs Cannot Be Corporate Person/Corporate Debtors Under Insolvency & Bankruptcy Code

22
07/2019

NBFCs Cannot Be Corporate Person/Corporate Debtors Under Insolvency & Bankruptcy Code

In COMPANY APPEAL (AT)(INSOLVENCY) NO.26 OF 2019, In the matter of:
Housing Development Finance Corporation Ltd vs RHC Holding Private Ltd, the NCLAT referring to the order of the tribunal in Randhiraj Thakur
Vs M/s Jindal Saxena Financial Services, Company Appeal (AT)(Insolvency)
No.32 and 50 of 2018, held that a non-banking financial  institution is carrying on business of financial institution and thereby it being  financial service provider do not come within the meaning of Corporate  Person/Corporate Debtor.




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