 "Cafe Coffee Day, Coffee Day Enterprises")
Coffee Day Enterprises is the parent company of Cafe Coffee Day| Photo: Wikimedia Commons
Corporate dispute tribunal NCLT has ordered initiating insolvency proceedings against Coffee Day Enterprises Ltd (CDEL), the parent company of Coffee Day Group which operates Cafe Coffee Day chain of coffee houses.
The Bengaluru bench of the NCLT (National Company Law Tribunal) on August 8 admitted the plea filed by IDBI Trusteeship Services Ltd (IDBITSL) claiming a default of Rs 228.45 crore and appointed an interim resolution professional to take care of the operation of the debt-ridden company.
CDEL, which also owns and operates a resort, renders consultancy services and is…
