Coffee Day Enterprises Ltd (CDEL), which owns the Cafe Coffee Day chain, is trying to negotiate a settlement with its creditor IDBI Trusteeship Services in parallel to the ongoing proceeding before insolvency appellate tribunal NCLAT. On August 14, 2024, the National Company Law Appellate Tribunal (NCLAT) stayed the insolvency proceedings initiated against CDEL by NCLT over the plea of DBI Trusteeship Services Ltd (IDBITSL). However, this was challenged by IDBITSL before the Supreme Court, which had on January 31, 2025, directed the Chennai bench of NCLAT to dispose of the pending appeal before February 21, 2025. The apex court had also directed that if the appeal filed by CDEL is not disposed of by NCLAT, then the order passed by the appellate tribunal staying the Corporate Insolvency Resolution Process (CIRP) shall stand vacated automatically. Updating the status, CDEL in a regulatory filing on Sunday informed: "The arguments in NCLAT are ongoing and in parallel the parties are .