THE NATIONAL COMPANY LAW TRIBUNAL ERRED BY GRANTING THE CIRP PETITION FILED UNDER SECTION 7 AGAINST THE NBFC GUARANTOR IN RESPECT OF THE CORPORATE DEBTOR: NCLAT As financial institutions are expressly excluded from the definition of a corporate person in Section 3(7), the National Company Law Tribunal (NCLT) erred in allowing an application brought by a financial creditor under Section 7 against an NBFC that had served as guarantor in respect of a corporate debtor. With a team of Commercial Law experts, Reddy & Reddy Law Firm has extensive experience and involvement in commercial disputes, including Insolvency Proceedings. We are regularly involved in representations before NCLT, NCLAT, DRT and other commercial tribunals in India.