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Coffee Day Enterprises appoints S V Ranganath as interim Chairman after Siddhartha's death

Agencies
July 31, 2019

Mumbai, Jul 31: Coffee Day Enterprises on Wednesday appointed S V Ranganath as the interim Chairman of its board after the body of founder-owner V G Siddhartha was found on the banks of Netravati river in Mangaluru.

The board also appointed Nitin Bagmane as the interim Chief Operating Officer. It constituted a three-member executive committee comprising of Ranganath, Bagmane and Chief Financial Officer R Ram Mohan to exercise the powers previously vested with the CEO.

Further, taking cognizance of the statements in the purported letter from Siddhartha relating to financial transactions outside the knowledge of the senior management, auditors and board, the board of directors resolved to thoroughly investigate the matter.

"While the authenticity of the letter is unverified and it is unclear whether these statements pertain to the company or personal holdings of VG Siddhartha, the board took serious note of the same and resolved to thoroughly investigate the matter," it said in a statement.

"The board remains deeply committed to safeguarding the interests of all stakeholders including investors, lenders, employees and customers." 
The board said the audit committee and the executive committee will engage in discussions with the statutory auditors of the company to recommend appropriate next steps at the board meeting on August 8.

The board appointed Cyril Amarchand Mangaldas as its legal counsel to advise on foregoing and related matters.

Following a massive search operation involving multiple agencies, the body of Siddhartha was found on the banks of Netravati River near Hoige Bazaar in Mangaluru. The 58-year-old businessman, son-in-law of former Karnataka Chief Minister S M Krishna, was missing since Monday evening.

"The board noted with profound regrets the tragic demise of Siddhartha and his matchless energy, vision and business acumen which helped to single-handedly build the company," said the statement.

The board expressed its condolences to Siddhartha's family and resolved to lend its support and expressed full confidence in the company's management team.

"The board also took note of a message from Malavika Hegde expressing support and trust in the company's professional team and the common effort to look after the interest of the employees and all other stakeholders," said the statement.

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News Network
August 4,2020

Bengaluru, Aug 4: The heath condition of Karnataka Chief Minister B S Yediyurappa who had tested positive for Covid-19 continues to be stable and he is currently asymptomatic, hospital source said.

Congress leader and former chief minister Siddaramaiah who too has tested positive for Covid-19, is suffering from high fever and is currently receiving treatment. He has been admitted at the Manipal hospital in Bengaluru.

"I request all those who had come in contact with me to check out for symptoms and to quarantine themselves," Siddaramaiah had said in a tweet.

Yediyurappa, is in the same hospital for treatment along with his daughter B Y Padmavati, who too tested positive for the virus on Monday.

Yediyurappa on Sunday night (2 August) had tweeted that, "I have tested positive for coronavirus. Whilst I am fine, I am being hospitalised as a precaution on the recommendation of doctors. I request those who have come in contact with me recently to be observant and exercise self quarantine.”

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News Network
March 26,2020

New Delhi, Mar 26: While the humans are on lockdown and spending time with their families, animals are free and without any fear roaming around on the otherwise busy roads. From Malabar civets to large Indian bisons, animals are enjoying this time.

Indian Forest Officer Susanta Nanda recently shared a video with the caption, "Indian bison( the gaur) goes for a street walk. The largest extant Bovine, is native to South and Southeast Asia. It can be very aggressive. Rare to see in markets."

The 8-second video shows the large animal freely walking in the market area of Chikmagalur district, Karnataka, while the few onlookers on the road get aside and watch the Bison with utmost amazement.

The videos of animals having a gala time on the roads have become common. After the video was posted online, it became a hit. The clip garnered over 3.1k views and over 100 retweets.

Twitter is amazed at the video. Have a look at the comments.

One user wrote, "Oh! We should vacate this place for them. Guess humans have stayed for too long."

Another Twitter user wrote, "That’s one thing people would follow social distancing with!"

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News Network
February 19,2020

Hassan, Feb 19: A 19-year-old boy, in a bid to impress his girlfriend, stole a sports bike from an OLX seller but cops managed to reach him through her on Tuesday.

The accused, Pramod, who works at a bakery, had been involved in a bike-lifting case two years ago too.

On February 9, Pramod saw an advertisement on online marketing platform OLX from Puneeth, a farmer from Shravanabelagola town, who wanted to sell his sports bike for Rs 1.4 lakh. Pramod called him up and the two agreed to meet around 6pm that evening at Shravanabelagola town bus stand.

Once there, Pramod, a college dropout, assured Puneeth that he would buy the bike but wanted to take it for a test drive. The seller agreed. A few minutes passed and when there was no sign of the bike or Pramod, Puneeth tried calling him. The phone was switched off and could not be contacted since. Puneeth immediately filed a cheating case with the Shravanabelagola police.

SP R Srinivas Gowda and ASP BN Nandini put together a team and began tracing Pramod's call detail records. Maximum calls were made to a single number and it turned out to be his girlfriend's.

Cops called the girlfriend and on Tuesday, asked her to contact him and ascertain his location. They traced him near Hassan city's railway station and nabbed him along with the bike. On interrogation, Pramod confessed that he wanted to impress his girlfriend and take her on long drives on the sports bike.

Police said Pramod, who belongs to Bandithimmanahalli village of Alur taluk, dropped out of college two years ago and has been working at a bakery in Sahyadri Circle.

While working, he has been involved in several incidents of bike-lifting. Cops said he appeared to have strained relations with his family and had taken to crime to make a quick buck.

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