Espresso Day, as additionally different firms comparable to CG Energy and Industrial Options, haven’t submitted the monetary outcomes and/or not paid the high quality quantity levied for the noncompliance.
CDEL declined to remark. Espresso Day has been struggling since its founder VG Siddhartha died final yr. It has been defaulting on loans, and lenders have been invoking pledged shares. The promoter stake has come all the way down to 17%, from 54% in July.
A number of of the corporate’s belongings have attracted consideration of PE gamers comparable to KKR. If such offers materialise, the corporate’s liquidity will enhance.