Kasaragod’s newly named 'Gaza Street' on the radar of IB, NIA

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."

Malappuram (Kerala), Feb 19:  children of a couple in a span of nine years has raised suspicion among police personnel here who have registered a case following a complaint after a three-month-old child of the family died on Tuesday and was buried.

Police exhumed the body, which was buried in the morning, and took it to the district hospital at Tirur for post-mortem.

The infant was the sixth child of the couple, police said.

"A case has been registered (for unnatural death) in the matter to verify the death beyond any suspicion raised by locals since five other children of the couple had died in the past nine years," a senior police official said.

The couple had three boys and three girls of which the third girl child lived till the age of four and the rest died before turning one.

"The post-mortem will take place today itself.We are collecting the medical records of the children who had passed away earlier.

We will identify the cause of death after analysing the records and discuss the matter with forensic doctors," Tirur Deputy Superintendent of Police (DySP) said.

However, relatives claimed that there was nothing suspicious in the death of the children and that doctors have said it was due to some genetic disease.

"The post-mortem of the third child was conducted and the doctors said the death was due to some genetic problems. They said they were helpless," a relative said, adding that the family was ready to face any probe.

According to the locals, the couple had claimed that the children have died due to epilepsy.

Sources said the baby was taken to a hospital but was dead prior to reaching the hospital early this morning.

Mangaluru, May 19: Officials at the Karnataka State Natural Disaster Monitoring Centre (KSNDMC) said that Dakshina Kannada, Udupi and Uttara Kannada along with Kodagu, Chikkamagaluru have been alerted about possible heavy rains.

Dr GS Srinivasa Reddy, Director, KSNDMC, said, “Coastal districts have already been witnessing heavy downpour since Monday morning. This will continue for another two days depending on the cyclonic movement along the east coast.”

Until last evening, Haleyangadi and Surathkal in Dakshina Kannada district had received 83 mm and 82.5 mm of rainfall, respectively. Several other areas in Udupi also witnessed heavy rainfall of about 60 to 70 mm rainfall.

The India Meteorological Department (IMD) attributed the rain, which intensified on Monday, to a cyclonic circulation over parts of the Arabian Sea (Comorin area) off the coast of Kerala.

The weather department said the sudden convergence of wind over the peninsular region was due to Super Cyclone Amphan, which is set to barrel into the east coast. The IMD issued an Yellow Alert for coastal Karnataka and Malnad, warning of moderate to heavy rainfall in the next few days.