Nirmal Ujjwal Credit Co-Operative Society Ltd. vs Ravi Sethia

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2026 Supreme(SC) 366

J. B. PARDIWALA, K. V. VISWANATHAN
Nirmal Ujjwal Credit Co-Operative Society Ltd. – Appellant
Versus
Ravi Sethia – Respondent

Advocates appeared:
For the Appellant(s) : Mr. Mukul Rohatgi, Sr. Adv. Mr. Rajiv Shakdher, Sr. Adv. Mr. Amit Pai, AOR Ms. Honey Satpal, Adv. Mr. R. Prashant Reddy, Adv. Ms. Pankhuri Bhardwaj, Adv. Mr. Aniruth G. Purusothaman, Adv. Mr. Abhiyudaya Vats, Adv. Mr. Keshav Sehgal, Adv.
For the Respondent(s): Mr. Rajesh Kumar Gautam, AOR Mr. Anant Gautam, Adv. Mr. Deepanjal Choudhary, Adv. Mr. Vibhu Sharma, Adv. Ms. Likivi Jakhalu, Adv. Mr. Aman Gahlot, Adv. Mr. Rishi Chauhan, Adv. Ms. Azal Aekram, Adv. Mr. Neeraj Kishan Kaul, Sr. Adv. Mr. Himanshu Satija, Adv. Mr. Jatin Kumar, Adv. Ms. Neha Mehta Satija, AOR Mr. Harshit Khanduja, Adv. Mr. Navin Pahwa, Sr. Adv. Mr. Rajesh J., Adv. Mr. Dhrupad Vaghani, Adv. Mr. Guruprasad Naik, Adv. Mr. Ajit Mk, Adv. Mr. Rishav Sethi, Adv. Mr. Md. Arsalan Ahmed, Adv. Mr. Yashwardhan Aggarwal, Adv. Mr. Gajendra Singh Negi, Adv. Mr. Dcosta Ivo Manuel Simon, AOR Ms. Aishwarya Bhati, A.S.G. Mr. Siddharth Dharmadhikari, Adv. Ms. Aastha Singh, Adv. Mr. Mayank Pandey, Adv. Mr. Rajat Nair, Adv. Mr. Santosh Ramdurg, Adv. Mr. Yogesh Vats, Adv. Mr. Shreekant Neelappa Terdal, AOR

Table of Content
1. statutory appeal context and background. (Para 1 , 3 , 4)
2. appellant's legal arguments for eligibility. (Para 17 , 18 , 19 , 20)
3. respondents' arguments against appellant’s eligibility. (Para 21 , 22 , 23 , 24 , 25 , 26 , 27 , 28)
4. interpretation of 'same line of business'. (Para 30 , 31 , 32 , 33 , 34 , 35 , 36 , 37)
5. application of 'same line of business' to present case. (Para 38 , 39 , 40 , 41 , 42 , 43 , 44 , 45 , 46 , 47 , 48 , 49)
6. final ruling on investment eligibility under section 64(d). (Para 50)
7. conclusion and dismissal of appeal. (Para 51 , 52 , 53 , 54 , 55)

JUDGMENT :

J.B. PARDIWALA, J.

For the convenience of exposition, this judgment is divided into the following parts:-

INDEX
A.	FACTUAL MATRIX
B.	SUBMISSIONS ON BEHALF OF THE APPELLANT
C.	SUBMISSIONS ON BEHALF OF THE RESPONDENTS
D.	ANALYSIS
(I)	Meaning and scope of the expression “any other institution in the same line of business”
(II)	Applicability of the standard of “same line of business” to the facts of the present case.
E.	CONCLUSION

1. At the outset, we must state that the present statutory appeal was finally heard by us, a

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2026 Supreme(SC) 366

J. B. PARDIWALA, K. V. VISWANATHANNirmal Ujjwal Credit Co-Operative Society Ltd. – AppellantVersusRavi Sethia – Respondent

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J. B. PARDIWALA, K. V. VISWANATHAN
Nirmal Ujjwal Credit Co-Operative Society Ltd. – Appellant
Versus
Ravi Sethia – Respondent