Minister Pramod Madhwaraj pays fine for riding bike without helmet

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, May 22: Police commissioner Bhaskar Rao on Friday said the next two Sundays will be ‘full curfew days’ and the city will be under complete lockdown between 7pm Saturday and 7am Monday.

Addressing the media, the top cop said all essential services will be excluded from the curfew. “People attending weddings and other ceremonies can travel. Those wanting to buy food products or medicines too can step out. However, like in lockdown 1.0, people found loitering unnecessarily will be punished,” he said.

According to Rao, city roads will be barricaded like how it was done during lockdown 1.0 and 2.0.

A senior police officer told TOI that during this period, vehicles could be seized under the Disaster Management Act-2005. “So, we request the public not to come out unnecessarily. If we find people roaming in vehicles, we shall seize the rides and owners will have to approach the court later to get them released,” he said.

The government has extended the lockdown till May 31, which includes two Sundays.
Earlier in the day, the state government allowed inter-state travel from Karnataka with the consent of the receiving state. Praveen Sood, Karnataka DG and IGP, said, “Inter-state pass is not required to go out of Karnataka as long as you have the consent of the receiving state. Due to the lockdown, migrant workers, pilgrims, tourists, students and other persons are stranded at different places. They would be allowed to move as usual.”

Belgaum, Mar 30: As many as 2442 labourers hailing from Karnataka have been brought back in 62 buses by the State government from Maharashtra on Sunday, in the backdrop of nation-wide lockdown following COVID-19 outbreak.

Maharashtra Chief Minister Uddhav Thackeray on Saturday urged migrant labourers not to leave the State owing to the nationwide lockdown and assured that the Maharashtra government will look after their interests.

Hundreds of migrants, a majority of whom are daily wage workers started rushing to their native places from different states amid uncertainty over their livelihood following the announcement of a 21-day nationwide lockdown by Prime Minister Narendra Modi last week in order to contain the spread of novel coronavirus.