Ahmed Hajee, Sheikh Karnire among others conferred with Beary Award-2019

New Delhi, Jul 25: Nearly a year after Cafe Coffee Day founder V.G. Siddhartha's death, the probe committee appointed by the Board of Coffee Day Enterprises Ltd (CDEL) has given a virtual clean chit to private equity investors and the Income Tax Department who were named in his last letter.
The investigation report noted that Siddhartha may have felt "aversive behavioural stimulus" due to persistent reminders from the PE investors and other lenders.

"However, such reminders and follow-ups by the PE investors and lenders are not something which are beyond normal industry practices and we believe that PE investors were acting as per accepted legal and business norms," said that report.

It further said that the investigators were not provided with any documentary evidence to show any "advertent or inadvertent harassment" from the Income Tax Department.

It however, said that the financial records suggest a serious liquidity crunch which may have arisen due to the attachment of Mindtree shares by the IT Department.

Further, the probe revealed that MACEL, a private firm of Siddhartha, owes Rs 2,693 crore to Coffee Day Enterprises, which the report says, "needs to be addressed".

The Cafe Coffee Day founder's body was fished out of the Netravathi river in Karnataka by a group of fishermen on July 31 last year, a day after he went missing.

His last note raised several questions about the role of investors, and tax officials.

He had written: "Tremendous pressure from other lenders lead to me succumbing to the situation. There was a lot of harassment from the previous DG Income Tax in the form of attaching our shares on two separate occasions to block our Mindtree deal and then taking possession of our Coffee Day shares, although the revised returns have been filed by us. This was very unfair and has led to a serious liquidity crunch."

The massive shock to the industry and the country also led the government to assure that tax officials would not harass businessmen and the situation would improve.

Shivamogga, Jan 11: Members of Karnataka Congress women's wing staged a protest in Shivamogga on Friday against the rise in onion prices and domestic LPG (liquefied petroleum gas) cylinders.

As a mark of protest, the demonstrators wore garlands made of onions, drew rangoli on the road and cooked food with firewood. The protestors also carried posters comparing the price of cylinders in Congress and BJP-led government in the Centre.

The price of non-subsidised LPG was hiked by Rs 19 per cylinder from January 1, 2020.

Bengaluru, Apr 28: A local court in Karnataka on Tuesday granted bail to a CRPF commando who was arrested by state police officials for alleged assault on them during COVID-19 lockdown duty, a charge contested strongly by the paramilitary.

The jawan has been taken to the jungle warfare training school of the paramilitary force in Belagavi district, a senior official said.

Constable Sachin Savant of the 207th CoBRA battalion was granted regular bail by a court located in Chikodi taluka of the district, he said.

A team of CRPF and CoBRA officials were present in the court during the proceeding during which the state police did not oppose the bail, the official said.

The commando was arrested by police on April 23 from Examba village (Belagavi district) when he was washing his bike outside his house without wearing a mask, as required under the coronavirus prevention protocol.

An altercation and physical fight took place between the two sides, following which the trooper was taken to the local police station and arrested.

The Central Reserve Police Force (CRPF) had on Monday taken up the case with the Karnataka director general of police (DGP), calling the incident "unpleasant".

The CRPF letter said commando Savant was "manhandled, ill-treated, paraded to the police station barefooted, kept in chains and handcuffs" by police personnel and sought the intervention of state Director General of Police Praveen Sood.

The paramilitary had said that from the scrutiny of a viral video on social media of the incident "it is apparent that the conduct of the police personnel was not citizen-centric".

A police report had said the CoBRA commando "started the altercation" with the beat constable and another policeman accompanying him, and "assaulted" them.

As per the official Twitter handle of the Karnataka DGP's on Monday evening, "IGP (inspector-general of police) Belagavi has been asked to enquire into the incident involving the CRPF constable and action will be taken against guilty after receipt of the report".

The Commando Battalion for Resolute Action (CoBRA) unit of the CRPF specialises in guerrilla tactics and jungle warfare.