New Delhi, 7 April (PTI) Coffee Day Enterprises Limited has reported a total default 425.38 crores on 31 March 2025 on payment of interest and payment on loans from loans as banks, financial institutions and NCRPS as NCRPS.
Coffee Day Enterprises Limited (CDEL), who is crossing his debts through the asset resolution, in a regulator update, said “delay in debt servicing is due to liquidity crisis”.
“Due to default in the repayment of interest and principal for lenders, the lenders have introduced the ‘loan recall’ notice to the company as well as legal disputes. Given loan recall notices, legal disputes and one-time disposal with lenders, the company has not recognized interest since 2021 April.”
CDEL has reported a default 174.83 crore on payment of major amount on loans or revolving facilities from banks or financial institutions by 31 March 2025.
In addition, it has also missed the payment of interest 5.78 crore upwards, CDEL said.
Whereas for unlonged date securities such as non-convertible debenture (NCD) and non-convertible redeemable preference shares (NCRPS), default is dues 200 crores by 31 March, 2025, as well as a default in payment of interest 44.77 crores on the same.
After the death of the founder and then chairman VG Siddharth in July 2019, CDEL crossed the loans through a resolution of the property.
In February this year, the National Company Law Appellate Tribunal (NCLAT) separated the insolvency proceedings against Coffee Day Enterprises.
On August 8, 2024, the Bengaluru bench of NCLT (National Company Law Tribunal) accepted a petition filed by IDBI Trustee Services Services Limited (IDBITSL). 228.45 crore and appointed an interim resolution professional to take care of the operating company.
It was immediately challenged before the Appellate Tribunal NCLAT, on August 14, 2024, on the petition of IDBT on the insolvency proceedings launched by NCLT against CDEL.
In March 2020, CDEL announced to repay After making a deal with the Blackstone Group, 1,644 crore 13 lenders to sell their technology business park.
The company is also doing a legal course to recover 3,535 crore allegedly exited the company and drowned in a individual firm promoted by Mysore Amelgamated Coffee Estates Limited (Macel), his late founder VG Siddharth.
