I-T raids on close aides of two more Congress MLA candidates

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.

New Delhi, Jun 22: With an increase of 14,821 new cases and 445 deaths, India's COVID-19 count reached 4,25,282 on Monday.

According to the latest update by the Union Ministry of Health and Family Welfare (MoHFW), 13,699 deaths have been recorded due to the infection so far in the country.

The rise in confirmed cases today is lower than the highest spike of 15 thousand plus cases registered on Sunday.

The count includes 1,74,387 active cases, and 2,37,196 cured/discharged/migrated patients.

Maharashtra with 1,32,075 confirmed cases remains the worst-affected by the infection so far in the country. The state's count includes 60,161 active, 65,744 cured, discharged patients while 6,170 deaths have been reported due to the infection so far.

Meanwhile, the national capital today became the second-worst affected region in the country with the number of confirmed cases in Delhi reaching 59,746 as opposed to Tamil Nadu's 59,377 cases.

While 2,175 deaths have been reported in Delhi due to the infection so far, the toll in Tamil Nadu stands at 757.

Kundapur, Apr 28: The local police have arrested two people for threatening and preventing an Associated Social Health Activist (ASHA) workers from discharging their duties during the lockdown.

Police said on Tuesday that the arrested are Sandeep Mesta and Mahesh Kharvi.

According to official sources, the health officials had put Sandeep under quarantine for 28 days.

However, he was seen wandering in the streets and ASHA worker C Laxmi warned him to stay indoors.

Irked by the warning Sandeep, along with his friend Mahesh Kharvi waylaid her and threatened to kill for objecting his movement.