Coffee Day

Coffee Day Enterprises Ltd (CDEL), which owns the Cafe Coffee Day chain, is trying to negotiate a settlement with its creditor IDBI Trusteeship Services in parallel to the ongoing proceeding before insolvency appellate tribunal NCLAT. On August 14, 2024, the National Company Law Appellate Tribunal (NCLAT) stayed the insolvency proceedings initiated against CDEL by NCLT over the plea of DBI Trusteeship Services Ltd (IDBITSL). However, this was challenged by IDBITSL before the Supreme Court, which had on January 31, 2025, directed the Chennai bench of NCLAT to dispose of the pending appeal before February 21, 2025. The apex court had also directed that if the appeal filed by CDEL is not disposed of by NCLAT, then the order passed by the appellate tribunal staying the Corporate Insolvency Resolution Process (CIRP) shall stand vacated automatically. Updating the status, CDEL in a regulatory filing on Sunday informed: "The arguments in NCLAT are ongoing and in parallel the parties are .

On October 1, the world observes International Coffee Day which unites the coffee lovers worldwide honouring a beloved beverage that surpasses cultures and promotes bonding

Coffee Day NCLT proceedings: The Bengaluru Bench of NCLT had admitted IDBI Bank's plea to initiate insolvency proceedings against Coffee Day Enterprises for loans worth Rs 228 crore

Corporate dispute tribunal NCLT has ordered initiating insolvency proceedings against Coffee Day Enterprises Ltd (CDEL), the parent company of Coffee Day Group which operates Cafe Coffee Day chain of coffee houses. The Bengaluru bench of the NCLT (National Company Law Tribunal) on August 8 admitted the plea filed by IDBI Trusteeship Services Ltd (IDBITSL) claiming a default of Rs 228.45 crore and appointed an interim resolution professional to take care of the operation of the debt-ridden company. CDEL, which also owns and operates a resort, renders consultancy services and is engaged in the sale and purchase of coffee beans, had defaulted in the payment of coupon payments of redeemable non-convertible debentures (NCDs). The financial creditor had subscribed 1,000 NCDs through private placement and paid Rs 100 crore towards the subscription in March 2019. For that CDEL executed and entered into an agreement with IDBITSL agreeing to appoint as the debenture trustee for the debenture

National Espresso Day is on November 23rd and is dedicated to celebrating the much-loved drink that has its origins in Italy from centuries ago

Coffee Day Enterprises Ltd on Thursday reported a consolidated net loss of Rs 109.15 crore for the second quarter ended September 2023 on account of exceptional items. It had reported a profit of Rs 4.35 crore in the July-Septemer period a year ago, according to a regulatory filing from Coffee Day Enterprises Ltd (CDEL). However, its revenue from operations was up 12.75 per cent at Rs 258.40 crore in the second quarter of this fiscal. It was at Rs 229.16 crore in the year-ago period. It has expenses of Rs 119.22 crore in the exceptional items. CDEL had a Profit before exceptional items and tax of Rs 3.50 crore. "During the Quarter ended 30 September 2023, Tanglin Developments Limited(subsidiary) has received its Global Village Second tranche sale proceeds of Rs 349 crores prost deductions of certain expenses incurred by GV Tech Parks on behalf of the Tanglin Developments Limited(subsidiary) and for non-satisfaction of certain CP's as agreed in the investment agreement and an amoun

Shares of Coffee Day Enterprises Ltd jumped 20 per cent on Wednesday after Coffee Day Global Ltd (CDGL) and its financial creditor IndusInd Bank reached a settlement, following which NCLAT has set aside an insolvency order against the company which owns and operates coffee chain Cafe Coffee Day. The stock rallied 19.77 per cent to settle at Rs 51.26 apiece on the BSE. During the day, it jumped 20 per cent to Rs 51.36 -- its upper circuit limit. On the NSE, it zoomed 20 per cent to Rs 51.30 per piece -- its upper circuit. In volume terms, 31.18 lakh shares of the company were traded on the BSE and over 2 crore shares on the NSE during the day. Counsel representing CDGL and IndusInd bank on Wednesday informed the Chennai bench of National Company Law Appellate Tribunal (NCLAT) about the settlement and sought permission to withdraw insolvency litigations. A two-member bench comprising Justice M Venugopal and Shreesha Merla took their submissions on record and set aside the order ...

On July 20, the Bengaluru bench of NCLT had directed the initiation of insolvency proceedings against CDGL

The National Financial Reporting Authority (NFRA) on Friday slapped penalties of Rs 2.15 crore on three entities, including two auditors, besides barring them for varying periods for lapses in the audit of Coffee Day Global Ltd for 2019-20. The case pertains to the diversion of funds worth Rs 3,535 crore from seven subsidiary companies of CDEL to Mysore Amalgamated Coffee Estate Ltd (MACEL). Coffee Day Global Ltd (CDGL) and MACEL are subsidiaries of the listed entity Coffee Day Enterprises Ltd (CDEL). After, markets watchdog Sebi shared its investigation report in April 2022, NFRA initiated investigations into the professional conduct of the statutory auditors of CDGL. In its order, NFRA imposed a penalty of Rs 2 crore on the audit firm ASRMP & Co and Rs 10 lakh on A S Sundaresha. Further, they have been barred for a period of four years and 10 years, respectively. The first two years of the restraint period of ASRMP & Co and the first five years of the prohibition period of ..

The National Financial Reporting Authority (NFRA) has imposed a ban and penalties totalling Rs 1.15 crore on three entities, including two auditors, for lapses in the auditing of Tanglin Developments Ltd and MACEL. Tanglin Developments Ltd (TDL) and Mysore Amalgamated Coffee Estate Ltd (MACEL) are subsidiaries of listed-entity of Coffee Day Enterprises Ltd (CDEL). Late VG Siddhartha and his family members controlled and owned CDEL. The case pertains to the diversion of funds worth Rs 3,535 crore from seven subsidiary companies of CDEL to MACEL. After markets regulator Sebi shared its investigation report in April 2022, NFRA started probing the professional conduct of the statutory auditors of TDL and MACEL. Separately, NFRA has imposed a fine of Rs 1 crore on audit firm Sundaresha & Associates, Rs 5 lakh on C Ramesh and further slapped a five-year ban on Ramesh and a two-year ban on Sundaresha & Associates, who were the statutory auditors of TDL during FY 2018-19. In ...

The National Financial Reporting Authority (NFRA) has imposed a ban as well as penalties totalling Rs 1.25 crore on five entities, including four auditors, for lapses in auditing of Coffee Day Global Ltd and MACEL during 2018-19 fiscal. Coffee Day Global Ltd (CDGL) and Mysore Amalgamated Coffee Estate Ltd (MACEL) are subsidiaries of listed-entity Coffee Day Enterprises Ltd (CDEL). Late V G Siddhartha and his family members controlled and owned CDEL. The case pertains to diversion of funds worth Rs 3,535 crore from seven subsidiary companies of CDEL to MACEL. After markets regulator Sebi shared its investigation report in April 2022, NFRA started probing the professional conduct of the statutory auditors of CDGL. Separately, NFRA has imposed a fine of Rs 5 lakh and slapped a five-year ban on Lavitha Shetty, who was the statutory auditor for MACEL during 2018-19 period. In connection with CDGL, the audit regulator has slapped a fine of Rs 1 crore on audit firm ASRMP & Co, Rs 10 lak

Coffee Day Enterprises had reported a consolidated net profit of Rs 18.80 crore for the third quarter ended on December 31, 2021

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

Debt-ridden Coffee Day Enterprises Ltd (CDEL) on Saturday said trading in its shares would be resumed at BSE and NSE from April 26

Default amoubt excludes a recalled borrowing of Rs 241.48 crore, due to non-compliance of certain covenants of the loan agreement

TCPL said it evaluates various opportunities on an ongoing basis without confirming or denying talks with CDEL.

Coffee Day, the owner of India's largest coffee chain, has been trying to sell assets to repay lenders after the death of its founder V G Siddhartha last year

The company had said it was taking steps for recovery of dues from MACEL, while disclosing the findings of the investigation

Investigation by CBI officer stated that Siddhartha's "Mysore Amalgamated Coffee Estates Ltd (MACEL) owes a sum of Rs 3,535 crore to the subsidiaries of Coffee Day Enterprise Ltd(CDEL)."

Sources said the management and BSR & Associates had several differences over valuation of subsidiaries