Telecom fraud: 3 more Mangaluru expats likely to walk free from Saudi jail soon

Bengaluru, Jul 26: A year-long probe by Coffee Day Enterprises Ltd (CDEL) has found that its late founder V G Siddhartha routed Rs 2,693 crore out of the company to Mysore Amalgamated Coffee Estates Ltd (MACEL), another privately-owned entity of him.

The MACEL owes Rs 3,535 crore to subsidiaries of Coffee Day Enterprises as of July 31, 2019 of which only Rs 842 crore was accounted.

"Therefore, a sum of Rs 2,693 crore is the incremental outstanding that needs to be addressed," said the report of an investigation headed by Ashok Kumar Malhotra, a retired DIG of Central Bureau of Investigation (CBI) and assisted by law firm Agastya Agastya Legal.

Siddhartha was found dead in early August 2019, and many suspected that he had committed suicide.

Steps are being taken by subsidiaries of CDEL for recovery of dues from MACEL, the company said.

"The board authorised the Chairman to appoint an ex-judge of the Supreme Court or the High Court, or any other person of eminence, to suggest and oversee actions for recovery of the dues from MACEL and to help on any other associated matters," it said in regulatory filings at stock exchanges late on Friday.

The probe further gives clean chits to the Income Tax Department and the private equity firms who Siddhartha in his parting letter had alleged of harassment.

"We have not been provided with any documentary evidence to draw an inference that there may have been any advertent or inadvertent harassment from the Income Tax Department," said the probe report.

The probe also highlighted severe liquidity crunch at CDEL in the build-up to Siddhartha's death.

A committee supported by senior professionals was formed to protect the interest of all stakeholders. CDEL said the debt levels which were about Rs 7,200 crore on March 31, 2019 have been brought down significantly by Rs 4,000 crore. The present debt of the group is around Rs 3,200 crore.

"The disinvestment process in the group continues and we are confident to have effective solution to all stakeholders," it said.

Bengaluru, Feb 5: Karnataka Home Minister Basavaraj Bommai on Tuesday said that he has demanded a report on the Shaheen School incident after reports emerged that children were allegedly interrogated by the police for hours at a stretch, while not allowing parents to be present.

Terming the incident a very sensitive matter as it involves children, Basavaraj Bommai said, "I have asked for a report on the Shaheen School incident. As it is a very sensitive and serious issue, I have asked the police to handle it carefully."

"I have asked the police to take the help of the women and child protection committee at the district level. However, I have been told that the police had visited the area where the play was done and no interrogation of children in isolation took place. Nevertheless, I have asked the police to handle the issue with care and do everything within the law," Basavaraj added.

The matter pertains to a programme organised as a part of the Republic day celebrations where the children in Shaheen School in Bidar had staged a play against the Citizenship Amendment Act (CAA) and National Register of Citizens (NRC).

The Akhil Bharatiya Vidyarthi Parishad (ABVP) had protested alleging that the play at Shaheen School in Bidar was derogatory. In the play, the participants were shown staging an anti-CAA sequence where there were dialogues encouraging non-cooperation with anyone asking for documents. A case was registered against the school management.

Meanwhile, CEO of Shaheen Education Institute, Bidar, Tauseef Madikeri had said, "Police have invoked Sections 124A, 505 and 504 of the IPC against the institution, over a play staged against CAA and NRC. It is beyond anyone's imagination. Deputy SP visited the classroom and interrogated the students."

Karnataka police had sealed the offices of the school after its students participated in the play. Meanwhile, the police had questioned students of Shaheen School after a play against the CAA and NRC was staged during the Republic Day celebrations.

The child rights groups, teachers and educationists had issued a statement condemning the police interrogation in the incident.

Bengaluru, Apr 20: A ruckus erupted in Padarayanapura on Sunday allegedly over shifting of suspected COVID-19 persons to quarantine facility by the Bruhat Bengaluru Mahanagara Palike (BBMP) officials.

The incident occurred in the late evening at Padarayanapura which is recognized as a 'Red Zone' when BBMP officials went to bring 15 secondary contacts of corona positive patients.

However, some people and youth created ruckus and broke the barricade and removed police post which was stalled in the area.

Soon after receiving the information, Bengaluru South Deputy Commissioner of Police reached the spot and brought the situation under control.

"Lockdown continues, please remain indoors.Tomorrow will be as it was till today. We Understand your situation and appreciate your cooperation," tweeted Commissioner of Police, Bengaluru City, Bhaskar Rao.

In Karnataka, 384 people have detected positive for COVID-19, of which 14 people have succumbed to the infection, as per the Union Health Ministry.