Coffee Day Enterprises gets 45-day extension for AGM

PTI New Delhi | Updated on August 28, 2019

Coffee Day Enterprises has got a 45-day extension from the Registrar of Companies (RoC) for its annual general meeting for 2018-19 financial year.

The company had sought extension of the AGM which was scheduled for September 30, 2019, as per a regulatory filing.

The RoC also advised the company to be careful in future regarding compliance with the provisions of the Companies Act, 2013.

The Bengaluru-based firm is in financial turmoil after its chairman VG Siddhartha allegedly committed suicide.

In a purported letter, Siddhartha had mentioned about severe financial stress being faced by his group firms, among other issues. Earlier this month, Coffee Day Enterprises had announced sale of its Global Village Tech Park in Bengaluru to Blackstone for up to Rs 3,000 crore to cut its debt.

On July 31, 2019, the company named independent director SV Ranganath as the interim chairman of the company.

Published on August 28, 2019

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