Coffee Day Global Ltd (CDGL) and its financial creditor IndusInd Bank have reached a settlement, following which NCLAT has set aside an insolvency order against the company which owns and operates coffee chain Cafe Coffee Day. Counsel representing CDGL and IndusInd bank on Wednesday informed the Chennai bench of National Company Law Appellate Tribunal (NCLAT) about the settlement and sought permission to withdraw insolvency litigations. pti
Electric 2W makers under scanner for flouting norms
The government is exploring legal options against electric two-wheeler companies for not complying with the FAME II scheme norms, according to a senior government official. The Centre has sought Rs 469 crore from seven electric two-wheeler makers for claiming incentives while not complying with the Faster Adoption and Manufacturing of Electric Vehicles (FAME II) scheme norms.
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