NCLAT stays insolvency proceedings against Coffee Day Enterprises till next date of hearing
The NCLAT halted insolvency proceedings against Coffee Day Enterprises Ltd, operators of Cafe Coffee Day, pending further hearings. The tribunal instructed IDBI Trusteeship Services Ltd, the financial creditor asserting a Rs 228.45 crore default, to file a counter affidavit within three weeks. This decision followed an appeal from Malavika Hegde, Executive Director-CEO of the company.
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