Mangaluru: Officer who transported EVMs in auto-rickshaw gets notice

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 10: Techies living in a Whitefield apartment block where the city's first Coronavirus patient was residing have been asked to work from home.

The Karnataka government is in touch with the heads of IT and ITES companies, some of which are said to have asked their staff to work from home.

Deputy Chief Minister Dr C Ashwath Narayan, who also holds the IT and BT Portfolio, said the government had directed the companies to explore giving their employees the work-from-home option.

Bengaluru, Jun 3: Lack of awareness on rail travel norms led to a tense situation on a Karnataka train as a female passenger was forced to disembark midway after her fellow passengers raised a hue and cry on seeing her knuckle stamped, mistaking it for a quarantine stamp, an official said on Tuesday.

"Many passengers on the train with the woman raised a hue and cry on seeing her stamped and complained to the TTE. She was later disembarked at Tumkur," a South Western Railway (SWR) zone official said.

The woman was travelling from Bengaluru to Belagavi as a transit passenger. Her status as such a passenger was stamped on her knuckle.

However, after some time, her fellow passengers observed her stamped hand and misunderstood that she was violating the quarantine norms.

Without realising that she was just a transit passenger who will be quarantined on reaching her destination, they created pandemonium and complained to the travelling ticket inspector.

"Following the public pressure, she was forcibly disembarked in Tumkur station," said the official.

Incidentally, the railways allows transit passengers to travel.

The official said the TTE would not have been aware of the rules and must have yielded to the passengers' pressure.

Later, the woman was allowed to board another train and reach her destination, the official said.