Coffee Day Global now in bankruptcy process
Coffee Day Global, which runs the Cafe Coffee Day chain in India, has been admitted for corporate insolvency by the Bengaluru bench of the bankruptcy court following a petition filed by IndusInd Bank. A subsidiary of listed Coffee Day Enterprises, which was promoted by the late VG Siddhartha that committed suicide in 2019, the company has outstanding debt of ₹67.3 crore from IndusInd Bank as of 31 March 2022, with the total debt standing at ₹960 crore, according to its annual report.
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