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IN THE HIGH COURT OF CHHATTISGARH
RAJANI DUBEY, NARENDRA KUMAR VYAS, JJ
Reserve Bank of India – Appellant
Versus
Name not specified – Respondent
| Table of Content |
|---|
| 1. basic facts regarding rbi's filing for winding up. (Para 1 , 2 , 3) |
| 2. court's decision that winding up cannot proceed without registration. (Para 4 , 13) |
| 3. contention on non-maintainability due to lack of nbfc registration. (Para 5 , 6) |
| 4. legal examination of winding up jurisdiction regarding nbfcs. (Para 8 , 12 , 14) |
| 5. final ruling on the appeal. (Para 15) |
1. This appeal has been preferred by the appellant - Reserve Bank of India being aggrieved with the Order dated 24.11.2017 passed by Single Bench of this Court in Company Petition No. 2/2004 whereby the learned Single Judge has dismissed the petition on the count that petition for winding up under S.45 - MC of the Reserve Bank of India Act, 1934 read with provisions of the Banking Regulation Act, 1956 is not maintainable.
2. The brief facts as reflected from the record are that the appellant / RBI is a statutory regulating authority for Non - Banking Financial Companies (NBFCs) empowered under Chapter III B of the Act (as amended by the Reserve Bank of India (Amendment) Act, 1997) for issuing certificate of registration to NBFCs, prescribing Prudential Norms, issuing Directions, prohibiting NBFCs from acceptin
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