Tanglin Developments News Today

The journey of Cafe Coffee Day started at Chikmagalur, Karnataka, where luscious coffee beans are grown in estates spanning over 20000 acres.

Coffee Day share price: The stock saw heavy trading volumes today as 19.57 lakh shares were last seen changing hands. The figure was way more than the two-week average volume of 17.99 lakh shares. Turnover on the counter came at Rs 12.11 crore, commanding a market capitalisation (m-cap) of Rs 1,331.94 crore.

Coffee Day share price: The company has seven subsidiaries such as Coffee Day Global, Tanglin Retail Reality Developments, Tanglin Developments, Giri Vidhyuth (India), Coffee Day Hotels & Resorts, Coffee Day Trading and Coffee Day Econ.

Coffee Day share price: The stock was down 6.23 per cent from its 52-week high price of Rs 57, a level seen on September 14, 2023. Despite the mentioned fall, the multibagger scrip has gained 102.46 per cent from its one-year low level of Rs 26.40, hit on March 28 this year.

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).

Karnataka Bank is expected to recover more than half of its dues from the debt sale of Coffee Day Global. The bank has received a binding offer from Rare Asset Reconstruction Company (ARC) for about ₹50-₹55 crore against dues of ₹88 crore. Rare ARC has previously acquired Coffee Day Global debt from other banks.

Last week, the bankruptcy court passed an oral order in which it admitted the unlisted company for insolvency based on a petition filed by IndusInd Bank. Till now, there has been no official statement by the Coffee Day Group.

Taking stern action against two chartered accounts (CAs) and an audit firm in the matter of Coffee Day Enterprises Ltd (CDEL) and its subsidiaries Mysore Amalgamated Coffee Estate Ltd (MACEL) and Tanglin Developments Ltd (TDL), the national financial reporting authority (NFRA) has imposed a ban of 10 years on CA Lavitha Shetty and a ban of five years on CA C Ramesh.

The Securities and Exchange Board of India (Sebi) said in an order that the company has been directed to pay the fine within 45 days , , cafe coffee day, sebi