Coffee Day board appoints EY for audit; to choose strategic advisor soon

In its last board meet held on July 31, the board had roped in law firm Cyril Amarchand Mangaldas as its legal counsel to advise on related matters

The board of directors at Coffee Day Enterprises has appointed EY to scrutinise the books of accounts of the company along with its subsidiaries in the light of the purported letter written by the chain’s founder V G Siddhartha, who was found dead in mysterious circumstances last month. The company made the disclosure in a regulatory filing on Thursday after a board meeting.  

The board has also decided to appoint a person of eminence or a reputed firm as its strategic corporate advisor for determining the strategic direction for the firm.

The Coffee Day founder had claimed that none of his team,