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National Company Law Tribunal Approves Coffee Day Global’s Insolvency Petition

  • Coffee Day Global, Cafe Coffee Day’s operator, has gained the approval of NCLT for corporate insolvency, according to a petition filed by IndusInd Bank.
  • The tribunal’s agreement came after a negotiation deal between IndusInd bank and the company collapsed.
  • In 2023, SEBI had fined Coffee Day Global Rs 26 crore for diverting funds to a partner company, and the company was in debt of Rs 960 crore by March 2022.
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