Multi-State Cooperative Societies Act, 2002 — Section 64(d) — Investment of funds by Multi-State Co-operative Society (MSCS) — Permitted investments are in subsidiary institutions or institutions in the same line of business — Amendment aimed at preventing misuse of funds and ensuring financial discipline — “Same line of business” requires substantial or predominant sameness in core business activities, determined by MSCS’s bye-laws — Not to be construed expansively.
2026 INSC 338 SUPREME COURT OF INDIA DIVISION BENCH M/S NIRMAL UJJWAL CREDIT CO-OPERATIVE SOCIETY LTD. Vs. RAVI SETHIA AND OTHERS ( Before : J.B. Pardiwala and K.V. Viswanathan, JJ.…