Four killed as bus rams into Innova car on Mangaluru-Bengaluru highway

Bengaluru, Mar 30: Coffee Day Enterprises Ltd (CDEL) has received the first tranche of Rs 2,000 crore following disinvestment of Global Village Techparks to repay debts following the death of its founder V G Siddhartha.
In August last year, CDEL executed definitive agreements with entities belonging to Blackstone Group and Salarpuria Sattva Group for investment in GV Techparks, a wholly-owned subsidiary of group company Tanglin Development Ltd (TDL), at an enterprise value of Rs 2,700 crore.
The balance amount is expected to be received after the receipt of few statutory approvals, CDEL said in a statement.
"Out of the money received in first tranche, the company has paid off its debts in full including principal and interest amounting to Rs 1,644 crore to the lenders despite difficult economic conditions," it said.
Post this payment, the consolidated debt of the company and its subsidiaries stands at Rs 3,200 crore as on March 27. This includes debt of Rs 1,400 crore of its subsidiary Sical Logistics Ltd where disinvestment process is in progress.
"The company and subsidiaries have repaid around Rs 4,000 crore to the lenders since the beginning of this financial year," CDEL said.
"With the continuous support of stakeholders of the company, the current management is working to ensure better liquidity and operational efficiency. The company is confident of the future ahead despite various challenges," it added.
The company has been in rough waters after its founder V G Siddhartha took his own life as debt strains began to emerge in his company. Since his death in July last year, CDEL has been trying to divest its assets to pare debts.
On July 30, 2019, CDEL informed stock exchanges about Siddhartha's disappearance. In a letter that was purportedly written by him, the Cafe Coffee Day founder said: "I could not take any more pressure from one of the private equity partners forcing me to buy back shares."

Mangaluru, July 18: The Dakshina Kannada district administration is likely to earmark a common burial ground in the wake of growing resistance from residents of various localities in Mangaluru against burial of Covid-19 victims in their vicinity.

Recently, following protests by residents on Bolar, the body of a Covid-19 victim remained in the ambulance for hours together. The residents refused to allow the victim to be laid to rest at a burial ground attached to a mosque. The victim, who had been a resident of Idya in Surathkal, was subsequently laid to rest after DC’s intervention.

In a bid to avoid such instances in the future, the district administration has identified a burial ground on the outskirts of Mangaluru. 

Former minister and incumbent Mangaluru MLA UT Khader said that he had discussed the problem at length with the officials of the Dakshina Kannada district administration, and had suggested they look for a relatively isolated space on the outskirts of Mangaluru city in order to avoid confrontation with the public.

“A parcel of land at Badaga Yekkuru, some 20km from the city has been identified as being suitable for the burial ground, but the district administration is yet to take a final decision,” Khader said.

Bengaluru, Mar 12: Karnataka Deputy Chief Minister Dr CN Ashwathnarayan on Wednesday said rumours that the state government has asked offices to remain closed tomorrow are false.

He clarified that the government has asked employers to explore the option of work from home amid the coronavirus scare.

"The rumours that the Govt has asked offices to remain closed tomorrow are false. We have asked employers to explore options of work from home for their employees. Let us be vigilant about this issue and not fall prey to any such rumours," Ashwathnarayan tweeted.

Meanwhile, Safdarjung Hospital in Delhi has cancelled all seminars, workshops or conferences in the premises in the wake of coronavirus spread.

"All the functions including seminars, workshops, conferences are to be cancelled. This is for urgent and necessary compliance," officials from the hospital said.