Section 50(2) in Insolvency And Bankruptcy Code, 2016
(2)The Board may specify the circumstances in which a transactions which shall be covered under sub-section (1).Explanation. - For the purpose of this section, it is clarified that any debt extended by any person providing financial services which is in compliance with any law for the time being in force in relation to such debt shall in no event be considered as an extortionate credit transaction.
