Mangaluru: Thousands travel from Ullal to join anti-CAA protest in Kasba Bengre

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."

Mangalore, Jan 15: In one of the biggest seizure of gold in the new decade, Directorate of Revenue Intelligence (DRI) sleuths here have seized five kg of gold valued at Rs two Crore from the Air Cargo Complex at International Airport here recently.

Acting on a tip-off the officers of Directorate of Revenue Intelligence (DRI) Bangalore and Mangalore in a co-ordinated effort unraveled a unique modus of smuggling of gold through Air Cargo Complex, at old airport, Bajpe Mangalore two days back, According to release issued here on Tuesday evening.

The smuggled gold was concealed in five metal sprockets which were imported by M/s Swaroop Mineral Pvt Ltd of Udupi in the name of “mining conveyor drive chain”.

Bengaluru, May 28: A complaint has been filed against BJP Karnataka state president and Lok Sabha member Nalin Kumar Kateel by the Congress Legislators charging him with issuing false information on Coronavirus to mislead the people.

The complaint was filed by MLCs Ivan D’Souza and Prakash Rathod at Vidhana Soudha police station on Thursday.

In the complaint they had alleged that “Kateel has been spreading false information that the position of World Health Organization’s (WHO) Chairman was given to India in appreciation of Prime Minister Narendra Modi’s achievement in Coronavirus management. 

In reality, the position was given to India on the basis of rotation. India’s stature gets affected because of such childish statements at the international level.”