HDK may undergo heart surgery again

Bengaluru, Jul 18: Bringing a major change in the  administration of Bengaluru, which has emerged as a Covid-19 hotspot, the state government on Saturday transferred B H Anil Kumar out of the BBMP and brought N Manjunath Prasad to take his place. 

Manjunath Prasad, who headed the Bruhat Bengaluru Mahanagara Palike (BBMP) before being replaced by Kumar, will take over with immediate effect. The government has also placed him in concurrent charge of the Revenue Department as well as the Disaster Management, Bhoomi and UPOR.

Kumar, an Additional Chief Secretary, has been put in a place where earlier a secretary was posted. He now heads the Department of Public Enterprises. The posting would have brought him two spots down had it not been for the government upgrading it to the level of additional chief secretary. 

Anil Kumar, who was earlier praised for his work to contain the coronavirus pandemic, had faced criticism by the High Court of Karnataka for the BBMP's failure to help people in containment zones as well as other issues on the spread of the pandemic. 

Sources in the government said, pressure has been building up against Anil Kumar over the last two months after most of the Bengaluru MLAs complained to the chief minister's office.

"No MLA backed him. Everyone had a problem," a source said. 

Things came to the head with regard to a Rs 436 crore project given to KRIDL. "The issue reached the chief minister's office as all the MLAs took an issue with the way the project was awarded," a source said. 

Another source said that Kumar came under fire after a central team flagged the issue of failing Covid-19 surveillance measures in Bengaluru. The central team's criticism, it is widely believed in the government, came as the last straw. 

Bengaluru, Feb 20: German software group SAP said on Thursday that it had temporarily shut down its offices across India for sanitisation after two employees in its Bengaluru Ecoworld office tested positive for H1N1 virus.

"Two SAP India employees based in Bangalore (RMZ Ecoworld office) have tested positive for the H1N1 virus. Detailed contact tracing that the infected colleagues may have come into contact with is underway," SAP India said in an emailed statement.

The company said its offices across Bengaluru, Gurugram and Mumbai have been closed for extensive sanitisation. All employees based in these locations have been asked to work from home till further notice

SAP India also advised its employees to seek medical advice if they or their family members have any symptoms of cold, cough with fever.

H1N1 or swine flu can spread through air. Its symptoms are cough, fever, sore throat, running nose, body ache, headache, chills and fatigue.

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."