New Delhi, Jul 24 (PTI) Shares of Coffee Day Enterprises plummeted more than 19 per cent on Monday after the NCLT admitted a plea against its subsidiary Coffee Day Global Ltd for initiating corporate insolvency resolution process.

The stock of Coffee Day Enterprises plunged 19.40 per cent to close at Rs 32 on the NSE.

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A similar movement was also seen on the BSE, where the scrip tumbled 19.26 per cent to finish at Rs 32.06.

In volume terms, more than 2.11 crore equity shares were traded on the NSE and 34.87 lakh shares on the BSE.

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On Monday, the 30-share BSE Sensex finished 299.48 points lower at 66,384.78 points while Nifty fell 72.65 points to end at 19,672.35 points.

In a regulatory filing on Monday, Coffee Day Enterprises Ltd said the National Company Law Tribunal has admitted a plea against Coffee Day Global Ltd (CDGL), which owns and operates popular chain Café Coffee Day, for initiating corporate insolvency resolution process.

The Bengaluru bench of the NCLT passed an order over a plea filed by a financial creditor of the company, claiming dues of Rs 94 crore, Coffee Day Enterprises Ltd, CDGL's parent company said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)