Supreme Court explains legal position on MSCS investment eligibility under Section 64(d) of Multi-State Cooperative Societies Act 2002.
Court clarifies 'same line of business' requirement for cooperative societies investing in corporate debtors under IBC.
Appellant Nirmal Ujjwal Credit Co-operative Society withdrew appeal after Court's legal analysis of bye-laws alignment.
Court affirms NCLAT ruling that appellant and corporate debtor Morarji Textiles were not in same line of business.