Godhra tragedy: Guj HC reduces death sentence of 11 to life term

Bengaluru, Mar 30: Coffee Day Enterprises Ltd (CDEL) has received the first tranche of Rs 2,000 crore following disinvestment of Global Village Techparks to repay debts following the death of its founder V G Siddhartha.
In August last year, CDEL executed definitive agreements with entities belonging to Blackstone Group and Salarpuria Sattva Group for investment in GV Techparks, a wholly-owned subsidiary of group company Tanglin Development Ltd (TDL), at an enterprise value of Rs 2,700 crore.
The balance amount is expected to be received after the receipt of few statutory approvals, CDEL said in a statement.
"Out of the money received in first tranche, the company has paid off its debts in full including principal and interest amounting to Rs 1,644 crore to the lenders despite difficult economic conditions," it said.
Post this payment, the consolidated debt of the company and its subsidiaries stands at Rs 3,200 crore as on March 27. This includes debt of Rs 1,400 crore of its subsidiary Sical Logistics Ltd where disinvestment process is in progress.
"The company and subsidiaries have repaid around Rs 4,000 crore to the lenders since the beginning of this financial year," CDEL said.
"With the continuous support of stakeholders of the company, the current management is working to ensure better liquidity and operational efficiency. The company is confident of the future ahead despite various challenges," it added.
The company has been in rough waters after its founder V G Siddhartha took his own life as debt strains began to emerge in his company. Since his death in July last year, CDEL has been trying to divest its assets to pare debts.
On July 30, 2019, CDEL informed stock exchanges about Siddhartha's disappearance. In a letter that was purportedly written by him, the Cafe Coffee Day founder said: "I could not take any more pressure from one of the private equity partners forcing me to buy back shares."

Bengaluru, Apr 1: Karnataka government along with BBMP has asked project contractors, builders and developers in the city not to send their labourers to their native place and instead provide them with amenities like food and shelter in this lockdown period.

It was also warned with legal action would be taken against them if they violating the instructions from the government .

Mangaluru, June 21: A gang of miscreants intercepted a goods auto-rickshaw which was legally transporting beef from an abattoir to market and attacked its driver in heart of the city this morning. 

The attack comes exactly a week after a gang of Bajrang Dal miscreants thrashed a cattle trader at Urwa while legally transporting four buffalos to Kudroli abattoir on June 13.

Today, a person identified as Abdul Rasheed was transporting around 200 kilograms of beef from Kudroli abattoir to Kankanady market.

Meanwhile, miscreants began to chase beef laden vehicle and managed to waylay it near Highland Hospital. They thrashed Abdul Rasheed and poured kerosene on the beef besides damaging the vehicle. 

The miscreants fled in their car and motorbikes after passersby began to gather.