SC Clarifies Whether a Co-Operative Society Can Act as a Resolution Applicant under the IBC - (10 Apr 2026)
INSOLVENCY
SC held that there is no blanket prohibition under Multi-State Co-operative Societies Act, 2002 on co-operative societies acting as resolution applicants under Insolvency and Bankruptcy Code, but their participation in CIRP is subject to compliance with applicable statutory investment restrictions.
Tags : MULTI-STATE CO-OPERATIVE SOCIETIES ACT INSOLVENCY AND BANKRUPTCY CODE RESOLUTION APPLICANT
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