Insolvency proceedings against Coffee Day Enterprises Ltd. resume after the NCLAT failed to issue a ruling within the Supreme Court’s deadline. The company faces debt issues stemming from the death of its founder in 2019.
New Delhi, Feb 24 (PTI) Insolvency process against Coffee Day Enterprises Ltd (CDEL), which owns the Cafe Coffee Day chain, has resumed as appellate tribunal NCLAT could not pass the order within the specified deadline of February 21, set by the Supreme Court.
Last week, the Chennai bench of the National Company Law Appellate Tribunal (NCLAT) completed the hearing and reserved its order over the appeal filed by the director of its suspended board, CDEL informed through a regulatory filing.
“Since the appeal has not been…
