Explained: Why SEBI has slapped a Rs 26 crore fine on Coffee Day Enterprises
2 years, 1 month ago

Explained: Why SEBI has slapped a Rs 26 crore fine on Coffee Day Enterprises

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SEBI found diversion of funds amounting to Rs 3,535 crore from seven subsidiaries of Coffee Day Enterprises Ltd to Mysore Amalgamated Coffee Estates Ltd, an entity related to promoters of CDEL New Delhi: Capital markets regulator SEBI on Tuesday imposed a penalty of Rs 26 crore on Coffee Day Enterprises, which runs Cafe Coffee Day, for diversion of funds from subsidiaries to a company related to promoters. Also, SEBI has directed Coffee Day Enterprises Ltd to take all necessary steps for recovery of entire dues from Mysore Amalgamated Coffee Estates Ltd and its related entities along with due interest that are outstanding to the subsidiaries. SEBI found diversion of funds amounting to Rs 3,535 crore from seven subsidiaries of Coffee Day Enterprises Ltd to Mysore Amalgamated Coffee Estates Ltd, an entity related to promoters of CDEL, according to its 43-page order. The seven subsidiaries are — Coffee Day Global, Tanglin Retail Reality Developments, Tanglin Developments, Giri Vidhyuth Ltd, Coffee Day Hotels and Resorts, Coffee Day Trading and Coffee Day Econ.

History of this topic

Coffee Day Enterprises stock jumps 20% after NCLAT sets aside insolvency proceedings
1 week, 6 days ago
NCLAT sets aside insolvency proceedings against Coffee Day Enterprises
2 weeks, 3 days ago
Coffee Day says plea filed against firm for insolvency proceedings by IDBI Trusteeship before NCLT
1 year, 6 months ago
Coffee Day bankruptcy process: Application filed under IBC Section 7
1 year, 6 months ago
Cafe Coffee Day insolvency: NCLAT stays the case, hearing scheduled for Sept
1 year, 7 months ago
Cafe Coffee Day parent’s bankruptcy: What’s brewing at Cafe Coffee Global?
1 year, 7 months ago
Sebi Slaps Rs 26 Crore Fine on Coffee Day Enterprises; Here's Why
2 years, 1 month ago
Sebi slaps ₹26 cr fine on Coffee Day Enterprises, asks to be paid in 45 days
2 years, 1 month ago
Coffee Day Appoints Malavika Hegde, Wife of Founder VG Siddhartha, as New CEO
4 years, 3 months ago
Café Coffee Day case: $270 million missing after founder Siddhartha's suicide
5 years ago
Coffee Day investigation reveals about Rs 2,000 cr missing from firm's accounts after death of VG Siddhartha; report likely to be released soon
5 years ago
Coffee Day Enterprises to table probe report on alleged suicide of founder VG Siddhartha soon
5 years, 1 month ago
Trouble brews as key Coffee Day lender Yes Bank stalls Blackstone deal
5 years, 3 months ago
Coffee Day Enterprises delays Q2 results: Stakeholders fate hangs in balance with firm's corporate governance and legal breaches
5 years, 4 months ago
Blackstone Group all set to buy Cafe Coffee Day's Global Village Tech Park; firm's debt to come down by more than half post-deal
5 years, 5 months ago
Coffee Day Enterprises ropes in ex-CBI official to scrutinise books of accounts; harassment charges to be probed
5 years, 6 months ago
CCD founder’s suicide: Police to probe exact cause
5 years, 6 months ago
CCD founder V.G. Siddhartha's death: Brewing mystery
5 years, 6 months ago
How much is Coffee Day worth without its founder V.G. Siddhartha?
5 years, 7 months ago
Coffee Day to sell tech park to Blackstone
5 years, 7 months ago
Coffee Day Enterprises to sell its Bengaluru tech park to Blackstone for up to Rs 3,000 cr to cut debt
5 years, 7 months ago
Coffee Day to sell Global Village Tech Park to Blackstone for up to ₹3,000 crore
5 years, 7 months ago
CCD board meeting: Coffee Day Enterprise appoints EY to scrutnize book of accounts; investigate into VG Siddhartha purported letter
5 years, 7 months ago
Coffee Day Enterprise appoints EY to scrutnize book of accounts
5 years, 7 months ago
No exposure to any CCD group firms: Tata Capital Financial Services
5 years, 7 months ago
In 2017, CCD founder VG Siddhartha admitted to ₹658-cr ‘unaccounted’ assets: I-T
5 years, 7 months ago
Latest reports reveal CCD's VG Siddhartha was under huge debt
5 years, 7 months ago
Coffee Day Enterprises shares tank another 10%; hit lowest trading permissible limit for third day
5 years, 7 months ago
Death of Cafe Coffee Day founder reveals strain of India’s cash crunch
5 years, 7 months ago
Cafe Coffee Day Founder VG Siddhartha Had Personal Debt of Rs 1000 Crore: Report
5 years, 7 months ago
VG Siddhartha made youngsters fall in love with coffee
5 years, 7 months ago
Corporate India remembers VG Siddhartha as a humble man; asks entrepreneurs not to be discouraged by failures
5 years, 7 months ago
Thousands bid farewell to CCD's Siddhartha at his cremation in Chikkamagaluru
5 years, 7 months ago
CCD boss Siddhartha to be cremated at his coffee estate in Karnataka
5 years, 7 months ago
Coffee Day names new interim chairman, to probe past transactions
5 years, 7 months ago
After VG Siddhartha's death, SV Ranganath appointed interim chairman of Cafe Coffee Day
5 years, 7 months ago
VG Siddhartha found dead: CCD founder reimagined idea of coffee in India, always sought to strike out on his own
5 years, 7 months ago
VG Siddhartha dead: CCD had mounting debt, but facts don’t suggest coffee chain was a failed affair beyond redemption
5 years, 7 months ago
VG Siddhartha dead: Politicians, business leaders condole CCD founder's death; netizens reminisce about their go-to cafe
5 years, 7 months ago
VG Siddhartha found dead in Mangaluru: No one was harassed, claims Income Tax dept; CCD founder had tax liability of Rs 447.47 crore
5 years, 7 months ago
Icra puts Coffee Day rating on watch with negative implications
5 years, 7 months ago
Coffee Day Enterprises shares hit 20% lower circuit on Siddhartha’s death news
5 years, 7 months ago
VG Siddhartha's suicide and perils of entrepreneurship: CCD founder among biz leaders who fell prey to high-pressure job
5 years, 7 months ago
#RIPSiddhartha: Cafe Coffee Day (CCD) outlets shut for a day
5 years, 7 months ago
After CCD founder VG Siddhartha's death, Coffee Day Enterprises shares further plummet 20%; hit lowest trading permissible limit
5 years, 7 months ago
RIP Siddhartha: CCD outlets across country to shut for a day
5 years, 7 months ago
CCD owner VG Siddhartha’s body found near Mangaluru river 2 days after he went missing
5 years, 7 months ago
VG Siddhartha: From Plantation Owner's Son to Coffee King of India, Tracing the Tycoon's Journey
5 years, 7 months ago
Coffee Day, Sical stocks hit lower circuit
5 years, 7 months ago

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