Coffee Day Global has resolved one dispute but faces a further USD 30 million claim.
Coffee Day Global has resolved one dispute but faces a further USD 30 million claim.
Indias National Company Law Appellate Tribunal (NCLAT) yesterday (13 September) approved a settlement between Malavika Hegde, a former director of Coffee Day Global (CDG), the operator of the Cafe Coffee Day coffee-shop chain, and its creditor IndusInd Bank. A two-member bench comprising Justice M Venugopal and technical member Shreesha Merla consequently revoked an order to admit the company to insolvency after the bank had issued a petition in August 2022.
The origins of the conflict can be traced to IndusInd Banks launching of legal action over a debt default of INR…
Read the full article at: https://www.cdr-news.com/categories/litigation/19391-coffee-shop-chain-escapes-insolvency-for-now