On the verge of bankruptcy: How Cafe Coffee Day ground to a halt business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Updated Apr 08, 2021 | 13:29 IST
Coffee Day Enterprises Ltd said its outstanding debt owed to banks and financial institutions as of March 2021 quarter was Rs 280 crore Coffee Day loan default: Company headed for bankruptcy as creditors mull NCLT way | Photo Credit: BCCL
The creditors of Coffee Day Enterprises Ltd (CDEL) are mulling to take the coffee chain owner to the National Company Law Tribunal (NCLT) after the company defaulted on loan obligation in March 2021 quarter.
In an exchange filing, CDEL said its outstanding debt from banks and financial institutions was Rs 280 crore as of March 2021 quarter. CDEL said it defaulted on its loan owing to a liquidity crisis, adding its total indebtedness was Rs 518 crore.
Highlights
India s popular hangout chain has a debt of Rs 280 crores
NEW DELHI: Cafe Coffee Day (CCD), which is India’s favourite hangout place is possibly at the verge of bankruptcy. According to a Business Standard report, this extremely popular café chain is has a whopping debt of Rs 280 crores.
The report quoted the exchange filings by CCD in the March quarter in which it disclosed a debt of Rs 280 crores.
It has also emerg3d that the lenders to CDEL, the parent company of
CCD, are taking the firm to the National Company Law Tribunal (NCLT) to find a solution for its huge debt crisis.
Updated Apr 08, 2021 | 21:01 IST
News headlines for April 8, 2021: Prime Minister Narendra Modi has expressed concern over the Covid-19 situation in the country during a virtual meet with chief ministers of states and union territories. Prime Minister Narendra Modi expresses concern over the fast-changing Covid-19 situation in the country. | Photo Credit: ANI
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Coffee Day stares at bankruptcy as asset sale fails to make headway business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.