The Chennai Bench of National Company Law Appellate Tribunal (NCLAT) has stayed the admission of corporate insolvency case brought by National Company Law Tribunal (NCLT) Bengaluru against the the coffee chain firm, Cafe Coffee Day (CCD) on Friday.
The NCLT order against CCD has been put on hold until the next hearing of the appeal filed by Malavika Hedge, the former director of CCD, by Justice Rakesh Kumar Jain, a judicial member, and Shreehsa Merla, a technical member, according to NCLT’s notice issued on Friday.
IndusInd Bank, the financial creditor whose application the NCLT order was based on has also received notice at the same time. The interim order stay has been passed Friday morning.
“Since, we have found that there are …
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