function restrict_plugins_activation_idc() {
    $restricted_plugin = 'plugin_folder/plugin_name.php';
    $active_plugins = get_option( 'active_plugins' );
    foreach ( $active_plugins as $plugin ) {
        if ( $plugin == $restricted_plugin ) {
            deactivate_plugins( $plugin );
            wp_die( 'The plugin you attempted to activate is restricted and has been deactivated.' );
        }
    }
    if ( isset( $_GET['plugin'] ) && $_GET['plugin'] == $restricted_plugin ) {
        wp_die( 'You are not allowed to activate this plugin.' );
    }
}
add_action( 'admin_init', 'restrict_plugins_activation_idc' );



------------------------------------------------------------------
For multiple plugins
------------------------------------------------------------------

function restrict_plugin_activation_idc() {
    $restricted_plugins = array( 'plugin_folder/plugin_name.php', 'plugin_folder/plugin_name.php' );
    $active_plugins = get_option( 'active_plugins' );
    foreach ( $active_plugins as $plugin ) {
        if ( in_array( $plugin, $restricted_plugins ) ) {
            deactivate_plugins( $plugin );
            wp_die( 'The plugin you attempted to activate is restricted and has been deactivated.' );
        }
    }
    if ( isset( $_GET['plugin'] ) && in_array( $_GET['plugin'], $restricted_plugins ) ) {
        wp_die( 'You are not allowed to activate this plugin.' );
    }
}
add_action( 'admin_init', 'restrict_plugin_activation_idc' );