Coffee Day Enterprises announced that in connection with a loan of Rs100 crore raised by a subsidiary company the lender of the subsidiary company has filed a petition before the Principal Bench National Company Law Tribunal Bengaluru under Section 7 of Insolvency and Bankruptcy Code 2016 for initiating Corporate Insolvency Resolution Process CIRP against the Company for Rs 12250 crore The Company has requested the subsidiary for amicable settlement vide discussions with the lender of the subsidiary company
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