Coffee Day Enterprises Ltd, which operates the Cafe Coffee Day outlets, said on Friday that an application has been filed at NCLT against the company under Section 7 of Insolvency and Bankruptcy Code.
The application has been filed by IDBI Trusteeship Services before National Company Law Tribunal, Bengaluru for alleged default of Rs 228 crore.
“An application has been filed against the Company under Section 7 of the Insolvency and Bankruptcy Code, 2016 read with Rule 4 of the Insolvency and Bankruptcy Rules, 2019 by IDBI Trusteeship Services Limited before the National Company Law Tribunal, Bengaluru for alleged default of Rs 228,45,74,180,” said the company in a stock exchange filing.
“The Company is seeking appropriate legal advice …
Read the full article at: https://www.businesstoday.in/latest/corporate/story/idbi-trusteeship-moves-nclt-for-insolvency-proceedings-against-coffee-day-for-alleged-default-of-rs-228-cr-397523-2023-09-08