Non-Banking Financial Company Maintains Its Status as Financial Service Provider, Exempt from Lending Ban and Insolvency Proceedings Unless Initiated by RBI: National Company Law Appellate Tribunal

The National Company Law Appellate Tribunal (NCLAT) in New Delhi has made a significant ruling regarding the status of non-banking financial companies (NBFCs) in relation to insolvency proceedings. According to the tribunal, an NBFC does not lose its classification as...