New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Wednesday stayed the insolvency proceedings against Coffee Day Enterprises Ltd (CDEL), which operates Cafe Coffee Day chain, till next date of hearing.
Passing an interim order, the Chennai-based bench of the appellate tribunal stayed the operations of the NCLT order.
NCLAT also directed the financial creditor of CDEL — IDBI Trusteeship Services Ltd (IDBITSL) claiming a default of Rs 228.45 crore, to file a counter affidavit over the submissions of the company.
“In these eventualities, the respondents are directed to file counter affidavits within a period of three weeks. Till the next date of listing, the effect of the operation of the impugned order, admitting the…
