HBI Staff | Hyderabad 
The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against Coffee Day Enterprises Ltd (CDEL), the parent company of Café Coffee Day. This decision follows a petition filed by IndusInd Bank, which is seeking to recover a debt of INR94 crore. Coffee Day Enterprises, which has faced financial difficulties since the death of its founder V.G. Siddhartha in 2019, had attempted to delay the insolvency proceedings but was unsuccessful. The NCLT’s ruling marks a significant step in the company’s ongoing financial struggles.
