Essayer OR - Gratuit
NCLAT Sets Aside Coffee Day Enterprises Insolvency Case
Mint New Delhi
|February 28, 2025
The Case Began in Sept 2023, When IDBI Trusteeship Approached NCLT for Insolvency Proceedings Against CDEL
The National Company Law Appellate Tribunal (NCLAT) on Thursday set aside insolvency proceedings against Coffee Day Enterprises Ltd (CDEL), the parent company of Café Coffee Day (CCD), dismissing IDBI Trusteeship's bankruptcy plea over an alleged ₹228 crore default.
The ruling came in response to a plea by Malavika Hegde, a shareholder and director at CDEL challenging an 8 August 2024 National Company Law Tribunal (NCLT) order, which had admitted IDBI Trusteeship's insolvency plea against the company.
The appellate tribunal had provided interim relief by staying the proceedings on 14 August 2024. However, proceedings had resumed as the NCLAT was unable to pass its final order before the Supreme Court's deadline of 21 February. IDBI Trusteeship Services Ltd (IDBITSL) had escalated the matter to Supreme Court, which, on 31 January, directed the NCLAT to resolve pending appeals by 21 February. However, as the appellate tribunal missed this deadline, the insolvency process was temporarily reinstated.
Cette histoire est tirée de l'édition February 28, 2025 de Mint New Delhi.
Abonnez-vous à Magzter GOLD pour accéder à des milliers d'histoires premium sélectionnées et à plus de 9 000 magazines et journaux.
Déjà abonné ? Se connecter
PLUS D'HISTOIRES DE Mint New Delhi
Mint New Delhi
In India's car labs, Chinese models new benchmark
Walk into the vehicle development centre of any major Indian carmaker and you'll find dozens of rival cars stripped to their bones, engineers poring over every exposed circuit, nut and wire. Such 'benchmark-ing' helps companies understand why some models work while others don't, track technology trends, and plan their own vehicle roadmaps.
2 mins
November 17, 2025
Mint New Delhi
Insurance merger plan gets new life
Centre weighs consolidating National, Oriental, United
3 mins
November 17, 2025
Mint New Delhi
IFC, two others may pick 49% in green H₂ maker Hygenco
The World Bank's International Finance Corp. (IFC), Munich-headquartered Siemens AG, and Singapore's Fullerton Fund Management may acquire at least 49% in Gurugram-based green hydrogen manufacturer Hygenco Green Energies Pvt. Ltd, two people aware of the development said.
4 mins
November 17, 2025
Mint New Delhi
India's telecom spectrum: Who actually owns it?
On 13 November, the Supreme Court reserved its order on how spectrum held by Aircel and Reliance Communications (RCom) will be treated under their insolvency proceedings. The decision will bring clarity on whether spectrum can be sold to recover dues. Mint. explores.
2 mins
November 17, 2025
Mint New Delhi
‘Rise in earnings can bring FIIs back, elevate India’s global standing’
It’s still early, but if earnings turn around, much of the global underperformance over the past year could well be reversed, believes Trideep Bhattacharya, president and C1O-Equities, Edelweiss MF.
4 mins
November 17, 2025
Mint New Delhi
The ultrarich are spending a fortune to live in extreme privacy
When developers Masoud and Stephanie Shojaee dined out recently, they headed to the members-only section of MILA restaurant in Miami Beach, Fla., where they were whisked to a table already bearing their favorite cocktails and chopsticks engraved with their names.
5 mins
November 17, 2025
Mint New Delhi
Satellite internet firms may see fee cut for remote areas
Discount would apply to 5% annual spectrum charge that DoT plans to levy on the firms
2 mins
November 17, 2025
Mint New Delhi
Ravindran moves NCLT on TLPL deal
Riju Ravindran has moved the National Company Law Tribunal (NCLT) against the compulsory convertible debenture agreement between Think & Learn Pvt. Ltd (TLPL) anda wholly owned subsidiary of Glas Trust Co., edtech firm Byju’s US-based financial creditor, alleging it to be violative of foreign direct investment (FDI) and Foreign Exchange Management Act (Fema) regulations.
1 min
November 17, 2025
Mint New Delhi
Resilience spells hope as uncertainty reigns high
As trade-policy turmoil prolongs global uncertainty on an IMF index, we have some bright spots too. India should consider shifting focus from supply-side policies to demand stirrers
2 mins
November 17, 2025
Mint New Delhi
Urban co-op lenders eye online banking
The National Urban Cooperative Financial and Development Corp. Ltd (NUCFDC)—the umbrella body for India’s urban cooperative banks (UCBs)—plans to request the banking regulator to allow smaller UCBs with net worth below ₹50 crore to offer digital services, including internet banking.
1 min
November 17, 2025
Listen
Translate
Change font size