Coffee Day Enterprises (CDEL) informed the exchange about the insolvency application filed by IDBI Trusteeship without naming the bondholder. CDEL is Coffee Day Global s holding company that operates the Cafe Coffee Day chain.
Coffee Day Enterprises (CDEL) informed the exchange about the insolvency application filed by IDBI Trusteeship without naming the bondholder. CDEL is Coffee Day Global s holding company that operates the Cafe Coffee Day chain. On March 31, 2022, CDEL had defaulted on ₹115.37 crore of bond payments to Credit Opportunities II Pte and ₹116.55 crore to India Special Situation Scheme, both funds of Ares SSG Capital.
It is not open to the liquidator to act on third-party communication and cancel the auction unless it is found that fraud or collusion has vitiated the process, the Court added.
According to Bloomberg Billionaires Index, Kotak has a net worth of about $14.5 billion, most of which comes from from the 26 per cent stake at the bank. Kotak was leading the bank since it was converted into a commercial bank in 2003, Companies News, Times Now
Kotak Mahindra Bank Limited at its meeting held on September 2, 2023 announced that Mr. Uday Kotak has ceased to be the Managing Director of the Bank, with effect from September 1, 2023 on account of.