SDPI fields Riyaz Farangipete in Bantwal, says sacrifice of workers won’t go in vain

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, Jun 26: A 60-year-old woman, who tested positive for COVID-19 positive and was undergoing treatment, allegedly committed suicide by hanging herself in the restroom of KC General hospital last night.

According to the police, the 60-year-old female COVID-19 patient hung herself in the restroom of KC general hospital in Bengaluru. She was admitted to the hospital on June 18 along with her daughter-in-law and grandson.

"Around 2 am, she went to the washroom. When she did not return back, her daughter-in-law went to check where she found her hanging dead," confirmed Bengaluru police.

An investigation into the matter is underway, police said.

Bengaluru, Jan 17: Six persons, said to be supporters of Social Democratic Party of India, have been arrested in connection alleged attempt to murder a member of RSS in Bengaluru.

Varun Bhopala (34), a resident of Sarakki in JP Nagar, was attacked while he was on his way to his father's shop near JC Road after attending a pro-CAA event organised by the RSS and other Hindutva organisations on December 22, 2019.

Police commissioner Bhaskar Rao said the arrested are Irfan alias Mohammed Irfan (33), Syed Akbar alias Mechanic Akbar (46), Syed Siddiq Akbar (30), Akbar Basha (27), Sanaulla Sharif (28) and Sadiq UL Ameen (39) - all residents of KG Halli in East and North Bengaluru.

Rao said the arrested wanted to attack and kill the leaders who took part in the pro-CAA event. They initially pelted seven stones to scatter the crowd so that they can attack the leaders, but they failed. Later, they saw Varun walking out of the crowd wearing a saffron shirt. So the arrested followed him and attacked him with lethal weapons. Assuming he is dead, the gang fled on their bikes towards Bidadi.

''The SDPI activists were funded by their leaders to create a disturbance, kill Hindu organisation leaders,'' Rao said. "I have formed a special team to investigate in-depth about the SDPI activities and take necessary action,'' he added.