Cong-JD(S) alliance is a mission to save Gandhi and Gowda families: BJP

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, May 17: Amidst mounting demand form Kannadigas across the world for repatriation flights in the wake of covid-19 lockdown, Dr Arathi Krishna, former Deputy Chairman of the NRI Forum of Karnataka government, has written to Hardeep Singh Puri Minister of Civil Aviation to operate more special flights to Gulf repatriate Kannadigas from gulf countries. 

Dr Arathi Krishna’s first request in the letter was to add flights from Kuwait, Bahrain and Jeddah to Bengaluru as many (from Karnataka) are stranded in these cities in precarious situations.

In addition, she also requested for a couple of flights from Dammam and Riyadh to Bengaluru as there are more than 3780 Kannadigas registered to return from Saudi Arabia and members of Bearys Chamber of Commerce and Industry are requesting the same. Any number of flights from Dubai to Bengaluru and Mangaluru will also help the stranded people, the letter stated. 

“Old and sick people, pregnant women and others are in urgent need to connect with the world are looking up to you for getting flights from different comers of the world. Indian communities are hopeful that you will use your position to help them to get the much needed mobility at this time,” the letter stated. 

She also said that the people in Karnataka are grateful to you (Mr Hardeep Singh Puri) for adding two flights from Dubai to Bengaluru in the last two schedules and one flight each from Riyadh, Dammam, Muscat and Doha.

Dr Arathi Krishna is currently serving as the Chairman of the NRI Cell of Karnataka Pradesh Congress Committee and Secretary of Indian Overseas Congress.

Mangaluru, Jan 20: The improvised explosive device (IED) recovered from a bag at Mangaluru airport was defused in an open field by the personnel of the bomb disposal squad on Monday. 

A short while ago, the Commissioner of Police in Mangaluru, PS Harsha, narrated the incident, along with the action taken by the security personnel.

"Today at approx 9 am a suspect dropped the baggage, containing plausible explosive substances, at the Mangaluru airport. It was spotted by the security personnel and then the bomb detection and disposal team was pressed into action," Harsha told reporters here.

"The area was cordoned off and then the suspected object was taken in a threat containment vehicle to a spot for defusing the explosive device. The local police have registered an FIR in this connection based on the complaints of CISF," he added.

The Commissioner said that three teams have been formed for "identification and apprehension of the accused."
He further said that the visuals of the suspect have been shared for his identification, and urged citizens of Mangaluru and around the nation to come forward and inform the police if they have any knowledge of the accused.

"Our teams have made some breakthrough and established few preliminary facts and I am assured we will be able to trace out the execution plan of the act of sabotage," he added.

Also Read: Security beefed up at airports across country after suspicious bag found at Mangaluru airport