CCD's parent firm Coffee Day Global admitted for insolvency by NCLT – Business Standard

Coffee Day Global, the operator of Cafe Coffee Day chains, was admitted for corporate insolvency by the Bengaluru bench of the  National Company Law Tribunal (NCLT) last week, The Economic Times (ET) reported on Monday. Based on a petition filed by IndusInd Bank, the NCLT passed an oral order on Thursday to admit the unlisted company. The tribunal is yet to upload a detailed order.

Coffee Day Global, a subsidiary of listed Coffee Day Enterprises, was promoted by the late VG Siddhartha. According to the annual report, as on March 31, 2022, the firm has an outstanding debt of Rs 67.3 crore from IndusInd Bank.

 A source was quoted as saying by ET that the t…

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