New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Thursday set aside the insolvency proceedings against Coffee Day Enterprises Ltd (CDEL), which owns the Cafe Coffee Day chain.
A two-member NCLAT bench of Chennai bench comprising justices Sharad Kumar Sharma and Jatindranath Swain set aside an earlier order passed by the Bengaluru bench of the National Company Law Tribunal. The a detailed order is still awaited.
CDEL is the parent company of Coffee Day Group which operates the Cafe Coffee Day chain of coffee houses. It also owns and operates a resort, renders consultancy services and is engaged in the sale and purchase of coffee beans.
Last week, insolvency proceedings against CDEL were resumed as the appellate…
