State moneylending laws don’t apply to NBFCs, holds SC
Timothy Lopes, Manager | tim@vinodkothari.com
In a landmark judgment dated 10th May, 2022, the Supreme Court in Nedumpilli Finance Company Limited vs State of Kerala & ors[1] held that the money lending laws will not apply in the case of NBFCs regulated by RBI. This ends an age-old quarrel between the States and NBFCs.
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