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Coffee Day Enterprises, which owns the brand, has informed the stock exchange about the insolvency application filed by IDBI Trusteeship.

Coffee Day Enterprises (CDEL) informed the exchange about the insolvency application filed by IDBI Trusteeship without naming the bondholder. CDEL is Coffee Day Global's holding company that operates the Cafe Coffee Day chain.

Ares SSG Capital Management has filed an application for corporate insolvency of Coffee Day Enterprises (CDEL) due to a bond default. CDEL's holding company, Coffee Day Global, was already admitted for corporate insolvency. Several lenders of CDEL have sold their debt to different asset reconstruction companies.

Coffee Day Enterprises (CDEL) informed the exchange about the insolvency application filed by IDBI Trusteeship without naming the bondholder. CDEL is Coffee Day Global's holding company that operates the Cafe Coffee Day chain. On March 31, 2022, CDEL had defaulted on ₹115.37 crore of bond payments to Credit Opportunities II Pte and ₹116.55 crore to India Special Situation Scheme, both funds of Ares SSG Capital.

Malavika Hegde, the suspended Director of CDGL and wife of late VG Siddhartha, moved the Chennai bench of NCLAT against the NCLT order.