Coffee Day Enterprises seeks more time to submit quarterly earnings

After the demise of VG Siddhartha, the conglomerate is facing liquidity crunch owing to higher interest outgo towards servicing debt.

Coffee Day Enterprises on Wednesday sought more time from stock exchanges to submit its first and second quarter earnings of FY20 owing to non-completion of internal investigations. In August last year, the firm has assigned Ashok Kumar Malhotra, retired DIG of CBI to probe into the purported letter written by its founder chairman late V G Siddhartha. He was also assigned to scrutinise the books of accounts of the firm with the help of an accounting firm. “As the assignment is under progress and is likely to take few more weeks for completion, hence, there will be delay in submission