Coffee Day Enterprises shares slump 2% after Sebi show cause notice

Shares of Coffee Day Enterprises Ltd on Thursday slipped more than 2 per cent after markets regulator Sebi issued a show cause notice to the company.

On BSE, the scrip settled 2.49 per cent lower at Rs 41.2. During the day, it was trading at a low of Rs 41.05

On NSE, it closed the counter 2.01 per cent lower at Rs 41.4. Intra-day, it was trading at Rs 40.8.

"The company is in receipt of a show cause notice under Sections 11 and 11B of the SEBI Act...pursuant to the investigation report submitted by the company to SEBI on issues arising out of the letter left by the late Mr V G Siddhartha, former Managing Director of the company in connection with fund flows from the subsidiaries of the company," as per a regulatory filing on Wednesday.