SUPREME COURT CLARIFIES INVESTMENT LIMITS OF MULTI-STATE CO-OPERATIVE SOCIETIES
In a significant ruling, the Supreme Court of India has clarified the scope of investments that can be made by Multi-State Co-operative Societies (MSCS). The Court emphasized that such societies must strictly adhere to their bye-laws while investing funds, ensuring alignment with their core business activities. This judgment is particularly relevant in the context of insolvency proceedings under the Insolvency and Bankruptcy Code, 2016, where entities often seek to participate as resolution applicants.