Shivarajkumar meets Pejawar seer in Udupi; learns ‘Huli Vesha’ dance steps in Malpe

Bengaluru, Jun 16: Karnataka Pradesh Congress Committee (KPCC) chief DK Shivakumar's daughter Aishwarya and Cafe Coffe Day founder late VG Siddhartha's son, Amarthya Hegde got engaged at SM Krishna Residence, Sadashivanagar in Bengaluru on Monday.
Only family members were present in the event. Amarthya Hegde is also the grandson of former Union Minister SM Krishna.
Last year in July, the body of Cafe Coffee Day (CCD) founder Siddhartha was unearthed on the banks of Netravati river.

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, Mar 15: The week-long ban imposed by the Karnataka Government from Saturday is yet to get a total response in the State to fight against the spread of killer disease Coronavirus (COVID-19).

The ban has witnessed a considerable reduction in the travelling public by Bus and train. Bus terminal and Railway stations wore desert look or only a very few public travelling. KSRTC, which was maintaining service for every 10 minutes once between the State Capital and to City of Palaces, was forced to cancel most of the service due to very little patronage. 

"We were left with no option but to cancel the fleet since there are no passengers," sources at the KSRTC Bus terminal told media persons.