Insolvency against Coffee Day resumes as NCLAT fails to pass order within deadline

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Insolvency proceedings against Coffee Day Enterprises Ltd (CDEL) have resumed as the appellate tribunal NCLAT could not pass a timely order. The corporate insolvency resolution process, initiated by a plea from IDBI Trusteeship Services over a default of Rs 228.45 crore, was initially stayed but now resumes following the Supreme Court's directive.