Karkala: NRI's wife found hanging at in-laws' house; murder suspected

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.

Madikeri, Apr 22: The quality of water in the River Cauvery in Kodagu district has improved significantly following the nationwide Lockdown.

The discharge of effluents from home stays and resorts situated on the banks of the river in the district has stopped due to lack of visitors. The discharge of waste water had made the river impure all these years.

The suspension of boat ride in Dubare has reduced the pollution from diesel motorboats in the river. For the last few years, the water quality of the river had reached 'C' category from 'B' category during the summer.

Bengaluru, Jul 9: Alarmed over surging COVID-19 cases, the Karnataka government has decided to divide this tech city into containment zones to curb the spread of the pandemic, a state minister said on Thursday.

"The city will be divided into red, orange and yellow zones in commensurate with the number of Covid cases in them for containing the virus spread on war footing," Law and Parliamentary Affairs Minister J.C. Madhuswamy told reporters here.

Cabinet ministers representing assembly segments in the city will be in-charge of the zones to ensure the cases are curbed with strict enforcement of lockdown guidelines, especially wearing mask and maintaining social distancing by the people in the confinement areas.

"Chief Minister B.S. Yediyurappa has convened a meeting of ministers, MLAs, MPs and corporators of all the 198 civic wards across the city on Friday to discuss and draw an action plan to contain the pandemic," said Madhuswamy.

With 1,148 positive cases, the city''s Covid tally rose to 12,509 and active to 10,103, while 2,228 were discharged, including 418 on Wednesday, while 177 succumbed to the infection since March 9, with 23 in the last 24 hours.

"The Chief Minister ordered deploying more ambulances in the containment areas where cases have been spiking daily to rush Covid patients to the nearest hospital for immediate treatment," said Madhuswamy.

The city civic corporation -- Bruhat Bengaluru Mahanagara Palike (BBMP) --has increased the containment zones to 3,181 due to more cases spiking, with southern and western suburbs accounting for most infections.

"The containment zones are concentrated more in the city''s southern and western suburbs. Active cases doubled over the last 8 days and shot up to a whopping 12,509 from 4,555 on June 30," an official said.

Refuting graft charges by opposition Congress leader Siddaramaiah in the purchase of medical equipment for treatment of Covid patients, Madhuswamy said the state government had not spent more than Rs 600 crore so far.

"We are running a government. Not a private office. We will give account. He (Siddaramaiah) is welcome to check the accounts and verify the documents," asserted the minister.

In a related development, the cabinet also approved an ordinance to increase the state contingency fund to Rs 500 crore from Rs 80 crore for the Covid-19 induced economic relief measures announced by the chief minister in June.