IBBI, SC Judgement Dated 09/04/2026 – Cooperative Society can only submit Resolution Plan for Corporate Debtor in Same Line of Business 

Case of Nirmal Ujjwal Credit Coop Society Ltd vs Ravi Sethia, SC Judgement Dated 9th April 2026.The apex court held that section 64(d) of the Multi-State Cooperative Societies Act, restricts investment only to entities in the same line of business. Accordingly, Multi-State Cooperative Society is ineligible to submit resolution plan for corporate debtor which does not operate in same line of business. 

(Link: SC Judgement Dated 09/04/2026)

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