The corporate dispute tribunal agency National Company Law Tribunal (NCLT) has ordered initiating insolvency proceedings against Coffee Day Enterprises Limited (CDEL), the parent company of Coffee Day Group which operates Cafe Coffee Day chain of coffee houses.
The Bengaluru Bench of the NCLT on August 8 admitted the plea filed by IDBI Trusteeship Services Limited (IDBITSL) claiming a default of ₹228.45 crore and appointed an interim resolution professional to take care of the operation of the debt-ridden company.
V.G. Siddhartha’s and Café Coffee Day’s rise through the years
CDEL, which also owns and operates a resort, renders consultancy services and is engaged in the sale and purchase of coffee beans, had defaulted in the…
