Patanjali to root out foreign products from India in 10 years: Baba Ramdev

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 16: Karnataka Chief Minister BS Yediyurappa on Tuesday instructed that despite financial constraints don't cut scholarships of the students belonging to Backward Class (BC) across the state.

Speaking at a review meeting of the Social Welfare Department at his home office 'Krishna' here, he said the department has achieved 97 per cent in implementation of the government programmes.

He said that among the BC students who were given training for the competitive examinations, two selected for IAS, two IPS, 13 IRS and another 268 students have been selected for various competitions and selected for the jobs.

Bengaluru, May 15: The novel coronavirus infection tally in Karnataka state on Friday crossed the 1,000-mark with 45 new positive cases.

The tally has risen to 1032 with 35 deaths.

At present, there are 520 active cases, while 476 have been discharged following recovery

A maximum of 16 new cases are from Dakshina Kannada, followed by 13 in Bengaluru Urban.

Five cases are from Udupi, three each from Hassan and Bidar, two from Chitradurga and one each from Bagalakote, Shivamoga and Kolara, respectively.

A three-year-old is among the six minor infected by the virus.

Among the new cases, nearly 20 have a travel history to Dubai, four to Mumbai, and three to Chennai.

The rest of the patients are contacts in the Containment zone and those who tested positive earlier.

Medical Education Minister Dr K Sudhakar said that there is no community transmission as yet.

New cases reported: 45

Total active cases: 520

Total discharges: 476

Total covid deaths: 35

Death of covid +ve patient due to Non-Covid cause: 1

Total positive cases: 1032