Supreme Court Clarifies “Same Line of Business” Test for Co-operatives under Section 64(d) | Biz Flow Kit
Supreme Court Clarifies “Same Line of Business” Test for Co-operatives under Section 64(d) The appellant, M/s Nirmal Ujjwal Credit Co-operative Society Ltd., a multi-state co-operative society, participated in the CIRP of a textile company by submitting a resolution plan. The Resolution Professional later declared the appellant ineligible on the ground that its bye-laws did not…