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Informative
Cafe Coffee Day insolvency: NCLT initiates insolvency proceedings against parent company of CCD
Update / Judgement Date
10 Aug 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
Corporate Law & GovernanceInsolvency & Bankruptcy Code
The National Company Law Tribunal (NCLT) initiated insolvency proceedings against Coffee Day Enterprises Ltd., the parent company of Café Coffee Day (CCD), following a petition by IndusInd Bank over non-payment of dues. The tribunal's decision marks a significant step in the resolution process for the financial difficulties faced by the company, highlighting the NCLT's role in corporate debt restructuring and insolvency cases under the Insolvency and Bankruptcy Code.
