Coffee Day group's outstanding debt at Rs 4,970 crore, seeks more time to repay
Updated : August 18, 2019 09:12 AM IST
The company's board on August 14 decided to sell Global Village Tech Park of its subsidiary Tanglin Developments Ltd in Bengaluru to the US-based private equity firm Blackstone.
The company has requested the lenders and creditors to give it time to honour the commitments and unlock the potential value of its assets.
The group has provided direct and indirect employment to about 50,000 people.
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