Coffee Day Enterprises update on CIRP filed against its subsidiary

Last Updated : Sep 20 2022 | 1:04 PM IST

Coffee Day Enterprises announced that in connection with a loan of Rs.100 crore raised by a subsidiary company, the lender of the subsidiary company has filed a petition before the Principal Bench, National Company Law Tribunal, Bengaluru under Section 7 of Insolvency and Bankruptcy Code, 2016 for initiating Corporate Insolvency Resolution Process (CIRP) against the Company for Rs 122.50 crore. The Company has requested the subsidiary for amicable settlement vide discussions with the lender of the subsidiary company.

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Coffee Day Enterprises update on CIRP filed against its subsidiary