<p>New Delhi: The National Company Law Appellate Tribunal (<a href="https://www.deccanherald.com/tags/nclat">NCLAT</a>) on Wednesday stayed the insolvency proceedings against <a href="https://www.deccanherald.com/tags/caf%C3%A9-coffee-day">Coffee Day </a>Enterprises Ltd (CDEL), which operates Cafe Coffee Day chain, till next date of hearing.</p><p>Passing an interim order, the Chennai-based bench of the appellate tribunal stayed the operations of the NCLT order.</p><p>NCLAT also directed the financial creditor of CDEL -- IDBI Trusteeship Services Ltd (IDBITSL) claiming a default of Rs 228.45 crore, to file a counter affidavit over the submissions of the company.</p>.NCLT orders insolvency proceedings against Cafe Coffee Day's parent company.<p>"In these eventualities, the respondents are directed to file counter affidavits within a period of three weeks. Till the next date of listing, the effect of the operation of the impugned order, admitting the appellant (CDEL) to Section 7 procedures will be kept in abeyance," said a bench comprising Justice Sharad Kumar Sharma and Jatindranath Swain.</p><p>NCLAT order came over a petition filed by Malavika Hegde, Executive Director-CEO of the suspended board of the company.</p> .Cafe Coffee Day plans 900 more outlets by 2014.<p>Earlier on August 8, the Bengaluru bench of the NCLT (National Company Law Tribunal) on August 8, admitted the plea filed by IDBI Trusteeship Services Ltd (IDBITSL) claiming a default of Rs 228.45 crore and appointed an interim resolution professional to take care of the operation of the debt-ridden company.</p><p>CDEL is the parent company of Coffee Day Group which operates the Cafe Coffee Day chain of coffee houses. It also owns and operates a resort, renders consultancy services and is engaged in the sale and purchase of coffee beans. </p>
<p>New Delhi: The National Company Law Appellate Tribunal (<a href="https://www.deccanherald.com/tags/nclat">NCLAT</a>) on Wednesday stayed the insolvency proceedings against <a href="https://www.deccanherald.com/tags/caf%C3%A9-coffee-day">Coffee Day </a>Enterprises Ltd (CDEL), which operates Cafe Coffee Day chain, till next date of hearing.</p><p>Passing an interim order, the Chennai-based bench of the appellate tribunal stayed the operations of the NCLT order.</p><p>NCLAT also directed the financial creditor of CDEL -- IDBI Trusteeship Services Ltd (IDBITSL) claiming a default of Rs 228.45 crore, to file a counter affidavit over the submissions of the company.</p>.NCLT orders insolvency proceedings against Cafe Coffee Day's parent company.<p>"In these eventualities, the respondents are directed to file counter affidavits within a period of three weeks. Till the next date of listing, the effect of the operation of the impugned order, admitting the appellant (CDEL) to Section 7 procedures will be kept in abeyance," said a bench comprising Justice Sharad Kumar Sharma and Jatindranath Swain.</p><p>NCLAT order came over a petition filed by Malavika Hegde, Executive Director-CEO of the suspended board of the company.</p> .Cafe Coffee Day plans 900 more outlets by 2014.<p>Earlier on August 8, the Bengaluru bench of the NCLT (National Company Law Tribunal) on August 8, admitted the plea filed by IDBI Trusteeship Services Ltd (IDBITSL) claiming a default of Rs 228.45 crore and appointed an interim resolution professional to take care of the operation of the debt-ridden company.</p><p>CDEL is the parent company of Coffee Day Group which operates the Cafe Coffee Day chain of coffee houses. It also owns and operates a resort, renders consultancy services and is engaged in the sale and purchase of coffee beans. </p>