‘A corrupt deal’: Probe sought into handing over of 5 airports including Mangaluru to Adani

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.

Mangaluru, May 26: In the wake of mounting case of covid-19 in the coastal Karnataka, the police department has decided to sanitise the police stations in Dakshina Kannada and Udupi districts.

The superintendents of police in both the districts have been instructed to take necessary steps for sanitisation of stations in a phased manner, according to Devajyoti Ray, inspector-general of police (Western Range).

Meanwhile, the top cops of Uttara Kannada and Chikkamagaluru that forms part of the Western Range have been asked to take a call on doing so. “Hebri police station in Udupi was sanitised as part of this process and not because of any positive case emerging from staff there,” he said.

Allaying fears over stations being sealed down over positive case among station staff, Karnataka police chief Praveen Sood said this is a temporary measure and stations do not become non-functional.

“It is just that, for a mandated period police station will function from different premise when the station is being sanitised,” he said.

Noting that policemen are quarantined as precautionary measure, he said additional staff can be drafted from other stations or districts if need for it arises.

Mangaluru, Jul 2: A frontline covid-19 warrior who was working in the Wenlock Covid hospital in the city has been tested positive for the coronavirus. 

Sources said that he was a pathologist working in covid testing laboratory of the Wenlock Covid hospital.

A few days ago, a senior health official had tested positive for the covid-19.

Dakshina Kannada has so far recorded deaths of 18 covid-19 patients. A total of 14,137 samples have been tested, out of which 13,040 have turned out negative, and 833 positive, including 10 persons from other districts. 372 cases are currently active.