The National Company Law Appellate Tribunal (NCLAT) has set aside an earlier order of the National Company Law Tribunal (NCLT) that had admitted Coffee Day Enterprises Ltd (CDEL), the parent company of Café Coffee Day, into the corporate insolvency resolution process (CIRP).
A bench comprising Judicial Member Justice Sharad Kumar Sharma and Technical Member Jatindranath Swain quashed the NCLT’s order on Thursday. A copy of the judgment is awaited, Bar & Bench reported.
The case originated from a petition filed by IDBI Trusteeship Limited (ITSL), which alleged that CDEL had defaulted on payments amounting to over ₹228 crore.
In August 2024, NCLAT stayed the NCLT’s decision after Malavika Hegde, a director in CDEL, challenged the…
