The National Company Law Appellate Tribunal (NCLAT) in Chennai on Wednesday stayed the corporate insolvency resolution proceedings (CIRP) against Coffee Day Enterprises Ltd (CDEL), operator of the Cafe Coffee Day chain, until the next hearing, reported Bar and Bench.
A coram of judicial Member Sharad Kumar Sharma and Technical Member Jatindranath Swain granted an interim stay on the August 8 order from the Bengaluru bench of the National Company Law Tribunal (NCLT) that had initiated the insolvency process. The insolvency petition was filed by IDBI Trusteeship Services Limited (ITSL), one of CDEL’s creditors.
“In these eventualities, the respondents are directed to file counter affidavits within a period of three weeks. Till the…
