Tag: Coffee Day Enterprises
- 11 Sep
Coffee Day Enterprises shares crash 15% after default application filed against the company
IDBI Trusteeship Services filed a default application against Coffee Day Enterprises under Section 7 of the Insolvency and Bankruptcy Code, for alleged default of Rs 228.45 crore. The company reported a net profit of Rs 21 crore in Q1FY23, but is facing financial difficulties since the death of its founder in 2019. The NCLT's decision on the default application will be crucial for the company.
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