Banker loses Rs 3.4 lakh, woman loses Rs 1.5 lakh to online fraudsters

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.

Bengaluru, Jun 5: The much awaited Southwest Monsoon entered Karnataka with widespread rain in coastal and central regions of the southern state, an official said on Friday. Rain and thundershowers are likely to occur at most places over coastal areas and at a few places over the interior parts over the next 24-48 hours.

"The southwest monsoon entered the state on Thursday as predicted from Kerala and the Arabian Sea, with moderate to heavy rainfall in the coastal districts and central or Malnad region of the state," Karnataka State Natural Disaster Monitoring Centre Director Srinivas Reddy told media here.

Though the monsoon has set in on time in the state, Reddy said its progress was likely to be slow in the next three days, as cyclone Nisarga induced high-speed winds took away rain-bearing clouds from the southern peninsula.

According to the regional meteorological office, Karwar in Uttar Kannada district received a whopping 15cm rainfall on Thursday, followed by 11cm each at Kundapur in Udupi district and Shivamogga in Malnad region.

Kadra and Gersoppa in Uttara Kannada and Kottigehara in Chikkamagaluru district had 10cm rainfall, followed by 8cm at Virajpet in Kodagu district and 7cm each at Shirali and Gokarana in Uttara Kannda.

Isolated to scattered rainfall also occurred in many places across the north and south interior regions of the state.

"The monsoon will advance in the state to south and north interior areas after June 8 as there is lull in its movement due to lack of rain-bearing clouds and winds to carry them," said Reddy.

Noting that the four-month monsoon from June to September, crucial to the rain-dependent state would be normal this year, Reddy said its progress and spread, however, would depend on various factors like cloud formations and wind movements.

"Conditions are likely to become favourable for monsoon advancement in the state over the next 2-3 days," asserted Reddy.

Mangaluru, June 22: A chartered flight from Dammam with more than 170 stranded Saudi Kannadiga passengers landed at Mangaluru International Airport at 8.53 pm. 

The flight was chartered by Saudi Kannadigas Humanity Forum (SKHF), an unregistered NGO, which was formed recently to help the Kannadigas stranded in Saudi Arabia due to covid-19 lockdown under the leadership of Zakariya Jokatte, president of Jubail unit of Bearys Chamber of Commerce and Industry and KS Sheikh Karnire, Director of Expertise Contracting Co. Ltd, Saudi Arabia.

There were 165 adults and 8 infants on board the IndiGo flight. All the passengers were screened at the airport. They will be dispatched to quarantine centres after completing formalities. 

SKHF had launched an online portal to assist those who were in need of emergency repatriation such as elderly people, those who lost their jobs, pregnant women and those who are in need of emergency medical treatment back home in India. 

SKHF coordinated with the authorities concerned to carry out all the formalities and legal procedures in Saudi Arabia. SKHF members were present at the Dammam Airport to help the passengers during the departure. 

Mr Jokatte and Mr Sheikh have thanked U T Khader, Mangaluru MLA and Dr Arathi Krishna, former deputy chairperson of NRI forum of government of Karnataka, for their help in chartering the flight.