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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
May 5,2020

Bengaluru, May 5: The Karnataka government is planning to maintain a Health database of its citizens in the backdrop of experience gained from the COVID-19 pandemic, Medical Education Minister K Sudhakar said on Tuesday.

In a statement issued here, he said a “Health Register” will be maintained to keep track of all health issues of the people and the project will be implemented first in Chikkaballapur district on an experimental basis.

“COVID-19 has provided enough experience for all of us and therefore, there is a need to maintain health data of each person. The government will be undertaking a survey using a team of Primary Health Centre officials, Revenue officials, Education department staff and Asha Workers,” the Minister said in a release here.

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News Network
June 30,2020

Bengaluru, Jun 30: To instill confidence among its commuters, the Karnataka State Road Transport Corporation (KSRTC) has decided to put stamp on hand of all passengers before they are allowed to board the buses.

In a statement issued here on Tuesday, The decision was taken in the wake of a sudden jump in the number of COVID-19 cases reported from Bengaluru.

The round stamp is, however, different from 'home-quarantine' stamp applied to infected and they were not allowed to travel. Officials said that the measure is aimed at reassuring passengers that those travelling with them do not have symptoms. The left hand will be stamped with an ink which can be washed away by the time they reach home.

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News Network
January 21,2020

Bengaluru, Jan 21: A massive protest against the Citizenship Amendment Act (CAA), National Register of Citizens (NRC), and National Population Register (NPR) was witnessed at Shivajinagar's Chandni Chowk area on Tuesday.

Scores of people came together carrying national flags and placards to register their protest in the city.

Speaking to ANI, a protester said, "People of all religious community have assembled here in Chandni Chowk to protest against CAA, NRC, and NPR. We the people of India are against this law."

Terming the law as anti-constitutional, he said that we support all the states who oppose the CAA. We demand the revocation of CAA and the government should remove conditions in NPR which lead to NRC.

CAA grants citizenship to Hindu, Sikh, Jain, Parsi, Buddhist and Christian communities fleeing religious persecution from Pakistan, Afghanistan, and Bangladesh and who came to India on or before December 31, 2014.

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Danny
 - 
Tuesday, 21 Jan 2020

What if the Caa was implemented by congress which was earlier planned by dr mnmohan singh and even Gandhiji said this that minorities of Pak amd Bangladesh can come india. Go check facts. Domt trust ur whstapp knowledge. 

abdulla
 - 
Tuesday, 21 Jan 2020

Unfortunately Hitler brother is our HM who is deaf, dumb and blind.   He has shit in his brain.   He is unfit to be called as human being.  He is thinking that he has no death.   I am sure that he will meet a miserable end. 

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