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Last month, the National Company Law Appellate Tribunal had stayed an order of the NCLT that had directed initiation of insolvency proceedings against the firm.
Sebi found diversion of funds amounting to ₹3,535 crore from 7 subsidiaries of Coffee Day Enterprises Ltd (CDEL) to Mysore Amalgamated Coffee Estates Ltd, an entity related to promoters of CDEL, according to its 43-page order.
Updated on Jan 25, 2023 06:28 AM IST