Lenders are staring at a legal labyrinth as loans to Coffee Day Enterprises group companies and V G Siddhartha were backed by the personal guarantee of the late promoter and some of these loans were raised by giving real estate assets as collateral.
According to FY18 annual reports of Coffee Day Enterprises and its listed subsidiary, Sical Logistics, almost all top banks, non-banking financial companies (NBFCs) and private equities (PEs) had debt/equity exposure to both the entities with real estate as collateral. In his last note, Siddhartha had listed a series of real estate which, he said, could be sold off