Coffee Day Enterprises Ltd, which operates the Cafe Coffee Day outlets, said that the Chennai bench of the National Company Law Appellate Tribunal has terminated the Corporate Insolvency Resolution Process (CIRP) against the company and set aside the NCLT order.
In August, the Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) had stayed the admission of the corporate insolvency case brought by NCLT Bengaluru against the coffee chain firm.
Malavika Hegde, the suspended Director of CDGL, has approached the Chennai bench of NCLAT against the NCLT order to initiate the CIRP against Coffee Day Global.
Earlier, Coffee Day Enterprises said the Bengaluru bench of the NCLT passed an order over a plea brought by a financial c…
Read the full article at: https://www.businesstoday.in/latest/corporate/story/nclat-terminates-insolvency-proceedings-against-coffee-day-sets-aside-nclt-order-398211-2023-09-13