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Financial service provider is out of purview of IBC; NCLAT rejects HDFC’s insolvency plea against RHC holding

July 11, 2019[2019] 107 200 (NCLAT- New Delhi)

IBC : Where appellant-HDFC, financial creditor filed an application under section 7 against respondent-corporate debtor, respondent being a non-banking financial institution was carrying on business of financial institution and was financial service provider as per section 3(16) did not come within meaning of corporate person/corporate debtor and was out of purview of I & B Code

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