ETMarkets.comThe Chennai bench of the NCLAT overturned the National Company Law Tribunal’s (NCLT) August 2024 order that had admitted an insolvency plea filed by IDBI Trusteeship Services Ltd over an alleged default of Rs 228 crore. A detailed copy of the ruling is awaited.
In a stock exchange filing, Coffee Day Enterprises said the appellate tribunal had allowed its appeal and annulled the insolvency resolution process that had been initiated against it. The order was pronounced on Thursday.
The NCLAT’s decision follows an appeal by Malavika Hegde, a shareholder and director at CDEL, challenging the NCLT’s earlier ruling. The tribunal’s initial decision had led to the appointment of an interim resolution professional to manage the company’s operations.
Last week, Coffee Day Enterprises had said that the insolvency resolution process had resumed on February 22 as the NCLAT had not delivered its ruling by the Supreme Court’s February 21 deadline.
Stock Trading
Maximise Returns by Investing in the Right Companies
Stock Trading
Renko Chart Patterns Made Easy
Stock Trading
Candlesticks Made Easy: Candlestick Pattern Course
Stock Trading
Dow Theory Made Easy
Stock Trading
Market 101: An Insight into Trendlines and Momentum
Stock Trading
Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading
Stock Trading
Market 103: Mastering Trends with RMI and Techno-Funda Insights
Stock Trading
Market 104: Options Trading: Kickstart Your F&O Adventure
Stock Trading
ROC Made Easy: Master Course for ROC Stock Indicator
Stock Trading
RSI Made Easy: RSI Trading Course
Stock Trading
Technical Analysis for Everyone - Technical Analysis Course
Stock Trading
Introduction to Technical Analysis & Candlestick Theory
Stock Trading
Options Trading Course For Beginners
Stock Trading
Options Scalping Made Easy
Stock Trading
Futures Trading Made Easy: Future & Options Trading Course
Coffee Day Enterprises reported its Q3 earnings on February 13, posting a 9.15% year-on-year increase in revenue. However, the company slipped into a loss of Rs 10.28 crore, a sharp contrast to the Rs 69.18 crore profit recorded in the same period last year. Sequentially, revenue rose 4.11% from the previous quarter.
Shares of Coffee Day Enterprises have lost 55.17% over the past year and are down 31.57% in the last six months. However, the stock has gained 13.97% in the past week.
Also read | Can Zomato shares hit Rs 310? Bernstein sees 35% upside despite quick commerce losses
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Read More News on
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
