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2022 (11) TMI 219 - Tri - Insolvency and BankruptcyMaintainability of petition - initiation of CIRP - Corporate Debtor failed to make repayment of its dues - Corporate Debtor is a Financial Service Provider - Operational Creditors - existence of debt and dispute or not - HELD THAT:- It is pertinent to note that the Corporate Debtor is a Financial Service Provider Annexure A at Page 5 of the Affidavit in reply as is evident from the Registration Certificate that has been filed. The Hon’ble NCLAT has reiterated time and again and had taken the same stand which is reflected in Saumil A Bhavnagri v. Nimit Builders Private Limited and Ors., [2020 (3) TMI 158 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI] that the definition of Corporate Person in Section 3(7) of IBC specifically provides that it shall not include "any financial service provider. The Corporate Debtor is a Financial Service Provider and hence the petition is rejected.
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