NCLT Dismisses Insolvency Petition Against Karvy Stock Broking

Kapston Facilities Management Ltd Vs Karvy Stock Broking Limited (NCLT Hyderabad)

Petition u/s 9 of IBC against Stock Brokers was not maintainable as same were Financial Service Provider

Conclusion: Insolvency petition filed against Corporate Debtor by Kapston Facilities Management Ltd. (Operational Creditor) under section 9 of IBC was dismissed as coprporate debtor was a financial service provider against whom no Corporate Insolvency Resolution Process ( CIRP ) could be initiated.

Held: Assessee-company (Corporate Debtor) was providi

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