Last week, the bankruptcy court passed an oral order in which it admitted the unlisted company for insolvency based on a petition filed by IndusInd Bank. Till now, there has been no official statement by the Coffee Day Group.
Coffee Day Global, which runs the Cafe Coffee Day chain in India, has been admitted for corporate insolvency by the Bengaluru bench of the bankruptcy court following a petition filed by IndusInd Bank. A subsidiary of listed Coffee Day Enterprises, which was promoted by the late VG Siddhartha that committed suicide in 2019, the company has outstanding debt of ₹67.3 crore from IndusInd Bank as of 31 March 2022, with the total debt standing at ₹960 crore, according to its annual report.
Coffee Day Enterprises Ltd (CDEL), the parent company of the popular coffeehouse chain Café Coffee Day (CCD) was penalized Rs 26 crore by the Securities and Exchange Board of India (Sebi) on Tuesday for alleged fund diversion. aaa
Sebi slaps Rs 26 crore fine on Coffee Day | The Navhind Times navhindtimes.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from navhindtimes.in Daily Mail and Mail on Sunday newspapers.
Markets regulator SEBI on Wednesday imposed a penalty of Rs 25 crore on Coffee Day Enterprises (CDEL), which owns Cafe Coffee Day, for allegedly violating of securities laws.