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Coffee day group to pay back its due debt of Rs 4,970 crore

After the sad demise of V G Siddharth, Coffee day group stands at a loan of Rs 4,970 crore. The group has now decided to pay back its loan amount. The organisation has announced divestment of Global Village Tech Park held by its subsidiary Tanglin Developments. With this move the company will further remove its major debt burden that is 1000 crores. Company feels that it will be in a comfortable position after it settles its loan.