Cafe Coffee Day reaches settlement with IndusInd Bank; NCLAT sets aside NCLT admission of insolvency plea

The National Company Law Appellate Law Tribunal (NCLAT), Chennai has set aside a National Company Law Tribunal (NCLT), Bengaluru order that had admitted an insolvency plea against Coffee Day Global, the parent company of famous coffee chain, Cafe Coffee Day (CCD). [Malavika Hegde, Suspended Director of Coffee Day Global Limited v. IndusInd Bank Ltd. & Anr]