The operator of Cafe Coffee Day chain, Coffee Day Global, was admitted for corporate insolvency last week. The coffee chain is facing bankruptcy case after IndusInd Bank filed a petition to the National Company Law Tribunal (NCLT), reported Economic Times citing sources.
The company was admitted for corporate insolvency by the Bengaluru Bench of the bankruptcy court. The tribunal admitted the company after the negotiations deal between the IndusInd bank and Coffee Day Global collapsed, found ET’s Maulik Vyas and Sangita Mehta.
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However, Mint could not independently confirm the bankruptcy process of the Cafe Coffee Day operator. Till now, there has been no off…
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