{"id":1261471,"date":"2023-07-28T07:52:28","date_gmt":"2023-07-28T02:22:28","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1261471"},"modified":"2023-07-28T07:53:05","modified_gmt":"2023-07-28T02:23:05","slug":"cafe-coffee-day-has-already-filed-for-bankruptcy-process-corporate-insolvency","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/cafe-coffee-day-has-already-filed-for-bankruptcy-process-corporate-insolvency\/","title":{"rendered":"Cafe Coffee Day Has Already Filed For Bankruptcy Process, Corporate Insolvency?"},"content":{"rendered":"\n<p>According to a recent media report, Cafe Day Global, the main operator of the popular cafe chain Cafe Coffee Day, has <a href=\"https:\/\/www.financialexpress.com\/industry\/cafe-coffee-day-operator-admitted-for-bankruptcy-process-says-report-bkg\/3184429\/lite\/?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts\">entered<\/a> into bankruptcy proceedings. The development occurred after IndusInd Bank filed a plea with the National Company Law Tribunal (NCLT). The Bengaluru chapter of NCLT has admitted Cafe Day Global for the corporate insolvency process following a breakdown of negotiations between the company and IndusInd Bank. However, Cafe Day Global has not officially confirmed or denied the bankruptcy rumors.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/07\/Cafe-Coffee-Day-Store-Night-1280x720-1-1024x576.jpg\" alt=\"Cafe Coffee Day Has Already Filed For Bankruptcy Process, Corporate Insolvency?\" class=\"wp-image-1261480\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/07\/Cafe-Coffee-Day-Store-Night-1280x720-1-1024x576.jpg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/07\/Cafe-Coffee-Day-Store-Night-1280x720-1-300x169.jpg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/07\/Cafe-Coffee-Day-Store-Night-1280x720-1-768x432.jpg 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/07\/Cafe-Coffee-Day-Store-Night-1280x720-1.jpg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>NCLT Appoints Legal Team for Bankruptcy Proceedings<\/strong><\/p>\n\n\n\n<p>Tatva Legal and Skanda Legal have been appointed as counsels for the respondent and applicant in this matter, as per the NCLT&#8217;s official record. Cafe Day Global, founded in 1993 through Coffee Day Global Ltd, operates cafes in more than 200 cities across India and is involved in various aspects related to coffee, from procurement to roasting. The company has an extensive portfolio, including businesses in hospitality, logistics, SEZs (Special Economic Zones), financial services, and more.<\/p>\n\n\n\n<p><strong>SEBI Imposes Rs 26 Crore Fine for Fund Diversion, Latest Reports Reveal Outstanding Debt to IndusInd Bank<\/strong><\/p>\n\n\n\n<p>Earlier in January of the same year, the company faced a fine of Rs 26 crore from market regulator SEBI (Securities and Exchange Board of India) due to fund diversion from subsidiaries to a firm related to promoters. Cafe Day Global, a subsidiary of listed Coffee Day Enterprises, was promoted by the late VG Siddhartha. According to the latest media reports citing the annual company report from March 2022, the company had an outstanding debt of Rs 67.3 crore owed to IndusInd Bank.<\/p>\n\n\n\n<p>Caf\u00e9 Coffee Day (CCD) is a coffeehouse chain with a global presence, based in Bengaluru, Karnataka, India. It operates as a subsidiary of Coffee Day Enterprises Limited. CCD has expanded its reach to various international locations, including Austria, Czech Republic, Malaysia, Nepal, and Egypt<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to a recent media report, Cafe Day Global, the main operator of the popular cafe chain Cafe Coffee Day, has entered into bankruptcy proceedings. The development occurred after IndusInd Bank filed a plea with the National Company Law Tribunal (NCLT). The Bengaluru chapter of NCLT has admitted Cafe Day Global for the corporate insolvency [&hellip;]<\/p>\n","protected":false},"author":26,"featured_media":1261480,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[2254],"class_list":["post-1261471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-cafe-coffee-day"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cafe Coffee Day Has Already Filed For Bankruptcy Process, Corporate Insolvency? - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/cafe-coffee-day-has-already-filed-for-bankruptcy-process-corporate-insolvency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cafe Coffee Day Has Already Filed For Bankruptcy Process, Corporate Insolvency? - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"According to a recent media report, Cafe Day Global, the main operator of the popular cafe chain Cafe Coffee Day, has entered into bankruptcy proceedings. The development occurred after IndusInd Bank filed a plea with the National Company Law Tribunal (NCLT). The Bengaluru chapter of NCLT has admitted Cafe Day Global for the corporate insolvency [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trak.in\/stories\/cafe-coffee-day-has-already-filed-for-bankruptcy-process-corporate-insolvency\/\" \/>\n<meta property=\"og:site_name\" content=\"Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-28T02:22:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-28T02:23:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/07\/Cafe-Coffee-Day-Store-Night-1280x720-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Rohit Kulkarni\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rohit Kulkarni\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trak.in\/stories\/cafe-coffee-day-has-already-filed-for-bankruptcy-process-corporate-insolvency\/\",\"url\":\"https:\/\/trak.in\/stories\/cafe-coffee-day-has-already-filed-for-bankruptcy-process-corporate-insolvency\/\",\"name\":\"Cafe Coffee Day Has Already Filed For Bankruptcy Process, Corporate Insolvency? 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