noticed for deciding the Appeal
are:-
2
2.1. Appellant, an NBFC disbursed an amount of Rs.1,60,00,000/- to the
Corporate Debtor. Disbursement ... Banking Financial Company
has to issue a document wherein the NBFC states the amount of loan to be
sanctioned, the terms and conditions including
initiated by the Reserve Bank of India where the asset
size of NBFC is of Rs.500 Crore or more, as per last audited
balance ... process(es) can be
initiated against the Personal Guarantor(s) of
a NBFC / FSP irrespective of CIRP against the
NBFC, provided that the concerned NBFC
NCLAT 37". In the above case , a Non-Banking Financial Company (NBFC)
after being held to be related party under Section 29A was kept ... which action was challenged before this Tribunal. When the NBFC made an
application before the Resolution Professional on the basis of Assignment
Deed, the said
Company Ltd. was on the ground that the Corporate
Debtor is a NBFC and no CIRP can be commenced under Section 7 by a
Financial ... Creditor against a NBFC. The Adjudicating Authority noticed that
in the RBI portal the status of the Corporate Debtor was always shown as
NBFC, however
Crores shall be paid by the RA to the FCs
through an NBFC, on simultaneous
assignment of their debt in favour of the said
NBFC ... security held by the FCs is
immediately transferred in favour of the
NBFC.
For ₹11 Crores, 8% fully redeemable
debentures shall be issued
Code.
2. The Appellant is a Non-banking Financial Corporation (NBFC)
registered under the Companies Act, 2013 , and is registered with the Reserve
Bank ... following grounds:
"a) The Appellant Financial Creditor being an NBFC is bound by the
Master Circular on Fair Practices Code dated 01.07.2015 and
that
Crores shall be paid by the RA to the FCs
through an NBFC, on simultaneous
assignment of their debt in favour of the said
NBFC ... security held by the FCs is
immediately transferred in favour of the
NBFC.
For ₹11 Crores, 8% fully redeemable
debentures shall be issued
from eligible Asset
Reconstruction Companies (ARC's)/ Non-Banking Financial Companies
(NBFC's)/ Financial Institution (FI's) for acquisition of categories ... Banking Financial Companies
Company Appeal (AT) (Insolvency) No. 03 of 2022
7
(NBFC's)/ Financial Institution (FI's) vide its Notice dated
from eligible Asset
Reconstruction Companies (ARC's)/ Non-Banking Financial Companies
(NBFC's)/ Financial Institution (FI's) for acquisition of categories ... Banking Financial Companies
Company Appeal (AT) (Insolvency) No. 03 of 2022
7
(NBFC's)/ Financial Institution (FI's) vide its Notice dated
Adjudicating
Authority.
2.2 The SRA approached the Appellant, who is a NBFC for financing
to enable him to make payment as per the Resolution Plan ... extent i.e., Rs. 2.18 Cr. Adv. Ekta Tripathi appearing
on behalf NBFC Raj Radhe alleged to have initially
funded the SRA, claims
