Indrajit, who had threatened Gauri Lankesh, not cooperating in probe: SIT

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, June 22: A chartered flight from Dammam with more than 170 stranded Saudi Kannadiga passengers landed at Mangaluru International Airport at 8.53 pm. 

The flight was chartered by Saudi Kannadigas Humanity Forum (SKHF), an unregistered NGO, which was formed recently to help the Kannadigas stranded in Saudi Arabia due to covid-19 lockdown under the leadership of Zakariya Jokatte, president of Jubail unit of Bearys Chamber of Commerce and Industry and KS Sheikh Karnire, Director of Expertise Contracting Co. Ltd, Saudi Arabia.

There were 165 adults and 8 infants on board the IndiGo flight. All the passengers were screened at the airport. They will be dispatched to quarantine centres after completing formalities. 

SKHF had launched an online portal to assist those who were in need of emergency repatriation such as elderly people, those who lost their jobs, pregnant women and those who are in need of emergency medical treatment back home in India. 

SKHF coordinated with the authorities concerned to carry out all the formalities and legal procedures in Saudi Arabia. SKHF members were present at the Dammam Airport to help the passengers during the departure. 

Mr Jokatte and Mr Sheikh have thanked U T Khader, Mangaluru MLA and Dr Arathi Krishna, former deputy chairperson of NRI forum of government of Karnataka, for their help in chartering the flight.

Bengaluru, Mar 27: In a preparatory measure to tackle any exigency in the backdrop of spread of coronavirus, the Karnataka government has asked district administrations to use as quarantine centres the residential schools and hostels that come the under Social Welfare department.

"Wherever necessary, these residential schools and hostels can be converted as quarantine facility without any extra cost by the district administrations," Deputy Chief Minister Govind Karjol said in a statement.

The total number of COVID-19 cases in Karnataka stood at 55, including two deaths and three discharged persons, as on Thursday.

Karjol, who is also the Minister in-charge of Social Welfare department said, in view of holidays for educational institutions, there were no students staying in the residential schools and hostels and hence they can be used for quarantine purpose.

All the residential schools at hostels in districts and taluks are spacious and have all required facilities like rooms, kitchen, toilets, bathrooms, libraries among others, the Minister said adding most of them were located away from densely populated areas.