Amid CAA protests, US expresses concern over religious freedom in India

Washington D.C., April 21: North Korea's leader, Kim Jong Un, is in grave danger following a surgery this month, according to a US intelligence official with direct knowledge.

Kim recently missed the celebration of his grandfather's birthday on April 15, which raised speculation about his well-being. He had been seen four days before that at a government meeting, according to intelligence reports cited by CNN.

The National Security Council and Office of the Director of National Intelligence have however declined to comment on the matter.

CNN has also reached out to the CIA and the State Department for comment and sought comment from the South Koreans.

Kim's absences from official state media often spark speculation and rumors about his health. North Korea has no free press and is often a black hole when it comes to the country's leadership. Analysts are heavily reliant on scanning state media dispatches and watching propaganda videos for any semblance of a clue.

Kim last appeared in North Korean state media on April 11. April 15 -- North Korea's most important holiday, the anniversary of the birth of the country's founding father, Kim Il Sung -- came and went without any official mention of Kim Jong Un's movements.

Experts are unsure of what to make of Kim's absence from any festivities celebrating his grandfather. When North Korean leaders have not shown up to these important celebrations in the past, it has portended major developments. But it has also turned out to be nothing.

"There have been a number of recent rumours about Kim's health (smoking, heart, and brain). If Kim is hospitalized, it would explain why he wasn't present on the important April 15th celebrations," said Bruce Klingner, a senior research fellow at the Heritage Foundation and former CIA deputy division chief for North Korea. "But, over the years, there have been a number of false health rumors about Kim Jong-un or his father. We'll have to wait and see."

Kim Jong Il's absence from a parade celebrating North Korea's 60th anniversary in 2008 was followed by rumblings that he was in poor health. It was later revealed he had a stroke, after which his health continued to decline until his death in 2011.

Kim Jong Un disappeared from the public eye for more than a month in 2014, which also prompted speculation about his health. He returned sporting a cane, and days later South Korean intelligence said that he had a cyst removed from his ankle.

Mar 16: An investigation into Coffee Day Enterprises Ltd., initiated by its board after the death of founder V.G. Siddhartha, is likely to conclude that at least Rs 2,000 crore is missing from its accounts, according to people familiar with the matter.

The months-long probe following the suicide of Siddhartha in July examined the financial transactions of India’s largest coffee chain and its dealings with dozens of private companies owned by the entrepreneur. The draft report, running more than a hundred pages, points to thousands of rupees that have gone missing, said the people, asking not to be named because the details aren’t public. It also details hundreds of transactions between the founder’s listed and personal businesses that were not conducted at arm’s length, they said.

Though the report is in its final stages, the precise details could change before its release, expected as early as this week, the people said. The missing funds could total more than Rs 2500 crore, one person said.

“The investigation report is still a work in progress, and not finalized,” a spokesman for the company said. “The board of directors and the company are unaware of its content at this point of time. Hence it would be premature to speculate on the investigation findings.”

The priority for management and Siddhartha’s family “is to keep the business running in a challenging environment and meet all stakeholder commitments, including 30,000 jobs associated with the group,” the spokesman added.

The disappearance of the 59-year-old founder last year stunned India’s business community. He had last been seen telling his driver he was going for an evening walk along a bridge in southern India; his body was found by local fishermen two days later. A letter delivered to Coffee Day’s board and employees, which appeared to be signed by Siddhartha, described massive debts and complained of pressure from lenders and tax authorities. It claimed he bore sole responsibility for the company’s financial transactions.

The probe began about a month later when the company brought in Ashok Kumar Malhotra, a retired senior official from India’s federal enforcement agency, to investigate. A senior lawyer practicing in India’s top court is assisting, the company said in a regulatory filing at the time.

The publicly traded Coffee Day was supposed to be India’s answer to Starbucks Corp. More than 1,500 of its Café Coffee Day outlets blanketed cities and highways, with affordable options for the country’s aspiring middle classes. The chain’s tagline: “A lot can happen over coffee.”

But the empire has been battered since the founder’s death. Its shares plummeted about 90% and its market value dropped to about $80 million. Trading was suspended in February.

India’s regulators are tracking the situation and may use the company’s final report as part of a deeper dive into its internal affairs, the people said. Coffee Day showed about Rs 2400 crore in cash and cash equivalents on its balance sheet as of March 2019, the most recent figures the company has issued.

After the death of Siddhartha however, the company faced a severe liquidity crunch and had “zero cash in the bank,” according to one of the people. It struggled with day-to-day expenses and paying salaries has been a strain, the person said.

The draft report details personal guarantees by Siddhartha for loans taken by Coffee Day, and his unsecured loans at high interest rates from local money lenders, the people said. It also probes Coffee Day’s defaults to coffee growers and other vendors, they said.

A related issue is that coffee estates owned by Siddhartha and several employees had been used as collateral for bank loans. The report found that valuations for properties were inflated to get the loans, one person said.

Investigators have examined several theories about what happened to the company’s money, including whether Coffee Day was manipulating its finances to show cash and profit and whether Siddhartha was taking cash out of the listed company to pay off a large investor to whom he had guaranteed a return, the person said. From the filings of his listed and private companies, the entrepreneur’s loans had totaled more than Rs 10,000 crore, and he had been squeezed by borrowing to repay interest on earlier loans, the person said.

In the letter purportedly from Siddhartha, the entrepreneur said he had tried his best but failed as an entrepreneur. “I am solely responsible for all mistakes,” the letter read. “Every financial transaction is my responsibility. My team, auditors and senior management are totally unaware of all my transactions. The law should hold me and only me accountable, as I have withheld this information from everybody including my family.”

As the report nears release, Coffee Day is finalizing a deal with Blackstone Group Inc. for real estate assets. A large tranche of the payment is due in about a week, one person said.

Coffee Day said it is working to reduce its debt load by divesting non-core enterprises.

“The aim is to save employment and preserve this iconic Indian brand,” the spokesman said.

Washington, Jun 6: US President Donald Trump has said that countries like India and China would have much more coronavirus cases than America, the worst-hit country in the world, if they conduct more tests.

Trump, in his remarks at Puritan Medical Products in Maine, said that the US has carried out 20 million tests.

Compared to the US, Germany is at four million and much talked about South Korea is about three million tests, he said on Friday.

According to Johns Hopkins Coronavirus Resource Center, the US has reported nearly 1.9 million cases and over 1,09,000 deaths, making America the worst affected country, while the total number of coronavirus cases in India and China stand at 2,36,184 and 84,177 respectively.

India has so far conducted over 4 million coronavirus tests, according to the health ministry.

Commenting on the COVID-19 tests in the US, Trump said: "We will be well over 20 million tests. Remember this, when you test more, you have more cases.

"I say to my people every time we test; you find cases because we do more testing. If we have more cases, if we wanted to do testing in China or in India or other places, I promise you there would be more cases... you are doing a fantastic job in getting out the swabs".

Puritan is one of the only manufacturers in the world producing the high-quality medical swabs that are crucial for rapid testing.

"And every swab you make at Puritan is proudly stamped with the beautiful phrase made in the USA."

"Thanks to the testing capacity that you are making possible, our country is reopening and our economy is recovering like nobody would've thought possible," he said.

Referring to the latest monthly employment numbers, Trump said that the economy is now back on track.

"We absolutely shattered expectations, and this is the largest monthly jobs increase in American history, think of that; that's a long time.

"I think it's more than double or about double of what our highest was before so this is the largest monthly job increase in American history. And we're going to have a phenomenal next year. We're going to have a tremendous couple of months prior to the election on November 3 very, very important date," the president said.

Seeking re-election for his second consecutive term, Trump is pitted against Democratic presidential nominee Joe Biden in November 3 presidential elections. Most of the opinion polls shows that Biden is several points ahead of Trump.

"It's going to be a very important election because the only thing that can screw it up is if you get the wrong president and they raise your taxes, and they open up your borders so that everybody pours into our country," Trump said.

Reiterating that he has built a strong economy in the last three years, Trump vowed to bring the economy back on track, which has been badly hit by the coronavirus pandemic.

Describing the fight against coronavirus as the greatest national and industrial mobilisation since the World War II, Trump said that his administration has marshaled the full power of the US government and US industry to defeat the invisible enemy.

"It is indeed an enemy. It came from China, should have been stopped in China. They didn't do that," he alleged.

The administration, he said, has delivered over 1.5 billion pieces of personal protective equipment to doctors and nurses on the front lines. "We slashed the red tape to speed up the development of vaccines. And vaccines are coming along incredibly well, wait till you see, and therapeutics. And we partnered at private sector leaders such as Puritan to build the largest and most advanced testing capacity on the face of the earth, like this one," he said.

The Puritan factory in Maine, he said, quickly ramped up the production to produce nearly 20 million foam tipped swabs each month.

"Then in April, my administration invoked the Defence Production Act to help you scale up even more. Under a USD 75 million public-private partnership, Puritan will soon double production to 40 million swabs per month," Trump added.