MCC demolishes structures to recover relinquished land from builders

Bengaluru, Jul 22: A 54-year-old man committed suicide at his home, after he learned that he was tested positive for Covid-19, at Devasandra, in Sadashivanagar.

The deceased, Shivamahadeva, ran a cot shop in Yeshwantpur along with his brother. The police said that he was single and was living with his elder brother and his family.

In another incident, a 50-year-old man, committed suicide fearing Covid-19 and the stigma related to the illness.

The deceased has been identified as Nagaraju, a resident of Doddaballapura and a native of Hesaraghatta, and his body was found at the Hesaraghatta lake.

The police said that during the investigation it was found that the neighbours had accused Nagaraju of spreading the infection.

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.

Thieves broke into an MSIL liquor outlet at Kuthar Nityanandanagara on the outskirts of Mangaluru and decamped with liquor worth Rs 1 lakh. The incident came to light on Friday morning. 

The outlet belongs to Purushotham Pilar. 

Before committing the crime, the thieves had hung a cloth in front of the shop shutter of the outlet to ensure that no one could notice the crime. They also stole DVR of the CCTV the was installed. 

On noticing that outlet was open, many people had even come to purchase liquor. The police took all those who had visited the outlet to purchase to the task and chased them away.

The thieves also stole 10 packets of cigarettes from a paan shop situated adjacent to the MSIL outlet.