A Bench comprising Justices J.B. Pardiwala and K.V. Viswanathan held that Section 64(d) of the Multi-State Co-operative Societies Act, 2002 restricts multi-state co-operative societies (MSCS) from deploying funds outside their core domain. Investments, the Court said, are permissible only in subsidiary institutions or entities engaged in a substantially similar line of business, as defined by the society’s own bye-laws. Read More