Mangaluru gears up for Dasara 2016

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.

Bengaluru, Mar 26: Karnataka government has warned strict penal action against landlords or house-owners under provisions of law for forcing doctors, paramedical staff and healthcare professionals to vacate their rented residences citing COVID-19 spread through them as the reason.

Stating that lot of complaints have been received in this regard, an order issued by Additional Chief Secretary Health and Family Welfare department Jawaid Akhtar said such behaviour amounted to obstructing public servant in discharging their duties./

Noting that the state government has issued Karnataka Epidemic Diseases (COVID-19) regulations 2020 for prevention and containment of the virus, it directed Deputy Commissioners of the district, Commissioner and Joint Commissioner of BBMP (civic body in Bengaluru), Commissioners of Municipal Corporations and District Deputy Commissioner of Police to take action against such incidents.

"Strict penal action should be taken against such landlords or house-owners under relevant provisions of law and submit an action taken report on a daily basis to the office of Additional Chief Secretary, Home Department," the order read.

Bengaluru, May 1: Karnataka Chief Minister BS Yediyurappa on Thursday announced Rs 30 lakhs compensation for corona warriors, in case they lose lives while carrying out their duties.

"Karnataka Chief Minister BS Yediyurappa has announced Rs 30 lakhs compensation for Anganwadi workers & assistants, civil workers, and police personnel who die after getting infected by COVID-19 while carrying out their duties," State Chief Minister's Office said in a statement.

According to Union Health Ministry website, a total of 557 cases of coronavirus have been reported in the state so far including 223 cured and 21 deaths.

Meanwhile, With 1,823 new cases of COVID-19 reported in the last 24 hours and 67 deaths, India's total count of coronavirus cases has gone up to 33,610, said the Union Ministry of Health and Family Welfare on Thursday.