IBC doesn’t apply on Co-Operative Society as it is not a ‘Corporate Person’: NCLT [Read Order]

IBC - Co-Operative Society - Corporate Person - NCLT - taxscan

The Mumbai Bench of National Company Law Tribunal (NCLT) held that the Insolvency and Bankruptcy Code does not apply to Co-Operative Society as it is not a ‘Corporate Person’. The Financial Creditor submitted that the Corporate Debtor approached the Financial Creditor seeking total loan facilities for an amount for the purpose of setting up a…

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