Gå ubegrenset med Magzter GOLD
Få ubegrenset tilgang til over 9000 magasiner, aviser og premiumhistorier for bare
Prøve GULL - Gratis
NCLAT Sets Aside Coffee Day Enterprises Insolvency Case
Mint Chennai
|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.
Denne historien er fra February 28, 2025-utgaven av Mint Chennai.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA Mint Chennai
Mint Chennai
It's Clear That Gamblers Should Pay More Taxes Than Investors
Investing aids the economy but gambling is simply consumption
3 mins
September 15, 2025
Mint Chennai
Finding inspiration in natural light
Nicobar's Simran Lal on how her two workspaces keep her calm, motivated
2 mins
September 15, 2025
Mint Chennai
Yuan versus the dollar: Propose a third option
As China attempts to globalize its legal tender; America guards the supremacy of its own and digital currencies gain traction, India should revive Keynes' idea of a global trade currency
2 mins
September 15, 2025
Mint Chennai
Mercedes Expects Best Festive Season
The recent GST rate cut is likely to make the upcoming festive season the 'best-ever' for the luxury carmaker, but there is a need to cap road taxes levied by states on car purchases for long-term growth of the industry, Mercedes-Benz India managing director and chief executive officer Santosh Iyer said.
1 min
September 15, 2025
Mint Chennai
Indian Market Resilient; Stocks Could Touch New Highs by March
Over the long term, say 7 to 10 years, small and midcaps will be the real winners A. Balasubramanian, managing director and chief executive of Aditya Birla Sun Life AMC
4 mins
September 15, 2025
Mint Chennai
Top Debtor States Seek More From Finance Commission
Greater fiscal relief, revamped criteria for tax revenue sharing, special funds among demands
2 mins
September 15, 2025
Mint Chennai
Insurance law revision likely next session: FM
The Insurance Amendment Bill, which proposes 100% foreign direct investment in the sector, is likely to be introduced in parliament in the winter session, finance minister Nirmala Sitharaman has said.
1 min
September 15, 2025
Mint Chennai
When street dogs, cats bring the office closer
When colleagues work towards a collective goal like looking after community animals, it offers them a sense of purpose
4 mins
September 15, 2025
Mint Chennai
COP-30: Use carbon trading to win climate leadership
An efficient and credible carbon market can give India a chance to lead a global agenda that's fair to everyone
3 mins
September 15, 2025
Mint Chennai
Small stores, bold ambitions: Ikea to ramp up presence
Ikea India plans to add 3-4 small city stores over 10 months, shifting focus from large-format outlets to compact spaces
1 mins
September 15, 2025
Listen
Translate
Change font size