Mumbai: The Chennai bench of the National Company Law Appellate Tribunal on Wednesday stayed the corporate insolvency resolution proceedings against Coffee Day Enterprises.
The interim order was granted following an appeal filed by Malvika Hegde, a shareholder and director of Coffee Day Enterprises, challenging the 8 August order by the National Company Law Tribunal (NCLT), which had permitted the initiation of the insolvency proceeding against the company by IDBI Trusteeship.
A detailed order is awaited in the matter.
Coffee Day Enterprises is the parent company of the Coffee Day group that operates Cafe Coffee Day chain.
In September 2023, IDBI Trusteeship had moved the Bengaluru bench of the National Company Law Tribunal (NCLT) to…
