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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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