Coffee Day Global: Deloitte engaged only for vendor due diligence

Coffee Day Global Ltd (CDGL) clarified on Thursday that it had mandated Deloitte for the limited purpose of vendor due diligence with respect to a proposed stake sale and not for conducting any forensic audit of the vendors or any transactions of Coffee Day Enterprises Ltd with any other entity.

The company has not defaulted on ₹489 crore of debt as reported. This is only the outstanding as of December 31, 2019.

“CDGL is in dialogue with several prospective buyers including PE funds, who have evinced interest in the company's business,” it said in an exchange filing. “Their offers are being evaluated.”


The company also said that its debt has dropped to ₹4,800 crore from ₹7,200 crore at the beginning of the financial year.

It also said that it was looking forward to bringing this down to ₹1,800 crore at the end of the current fiscal year.