Coffee Day Global IRP Seeks Claim Details From Creditors

Coffee Day Global Ltd.’s Interim Resolution Professional (IRP) Shailendra Ajmera is seeking claim details from the company’s creditors.

The Cafe Coffee Day chain owner’s creditors must submit their claims with proof by 8 August, Ajmera said in a public announcement. The e-mail to be used for correspondence with the IRP is cirp.ccd@gmail.com, he added.

The National Company Law Tribunal (NCLT) admitted Coffee Day Global for insolvency resolution last week following a petition by the company’s financial creditor IndusInd Bank Ltd.

The bank sought initiation of a corporate insolvency resolution process (CIRP) against Coffee Day Global, a subsidiary of Coffee Day Enterprises Ltd., claiming a default of over 94 crore rupees ($11.45 million).

The NCLT’s Bengaluru bench, which passed the order on 20 July, had appointed Ajmera as IRP of Coffee Day Global and directed him to take necessary steps mandated in the bankruptcy law for the insolvency resolution.

Ajmera, who is also the resolution professional of Go Airlines (India) Ltd., said Coffee Day Global’s CIRP is likely to be completed by 21 January 2024.

The first Cafe Coffee Day outlet, popularly known as CCD, was opened in 1996 in the southern Indian city of Bengaluru. The outlet has now presence across more than 200 cities in the country.

Note: $1 = 82.0897 Indian rupees

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