Kanaka Nade': Action sought against Pejawar seer, Chakravarti Sulibele

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.

Mysuru, Jan 11: City Police has intensified its search for a girl student who a displayed 'Free Kashmir' poster during a protest two days back.

According to police, a girl student displayed the poster carrying an anti-national message, during the protest organised by University of Mysore Researchers Association and other organisation on Wednesday to oppose the attack on the students and the teachers in Jawaharlal Nehru University in the National Capital. An officer said that as per the documents available, it appears that a girl student displayed the placard for a few minutes.

"We are looking for the accused". The Jayalakshmipuram police have taken up suo motu cognisance of the case. Meanwhile. the office of Governor Vajubhai Vala, on Thursday, sought a detailed report from the University of Mysore (UoM) over the incident. The city police have booked the protestors under Section 124A of the Indian Penal Code (IPC).

Bengaluru, Feb 28: Bengaluru Police Commissioner Bhaskar Rao on Friday said that Section 144 will be imposed near Vidhana Soudha for Budget session starting from March 2.

"Section 144 of the CrPC (prohibits assembly of more than 4 people in an area) will be imposed in the area around Vidhana Soudha from March 2 to March 31 ahead of the Budget session,"Bhaskar Rao said.

The police said that they have intelligence inputs of protests near Vidhana Soudha.