Medical colleges seek 15% hike in fees

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."

Bengaluru, Feb 24: Raising questions about the situation in Kashmir, senior Congress leader and former Karnataka chief minister Sidddaramaiah on Monday asked the BJP heading the union government to prove 'normalcy' by hosting US President Donald Trump's event in the valley.

If @BJP4India feels Kashmir has returned to Normalcy, & If @BJP4India feels that there is no govt orchestrated violence. Now is the time to prove the same by hosting @realDonaldTrump's event at Kashmir, Siddaramaiah tweeted.

Amid concerns raised by opposition parties, the government has said efforts have been made to restore normalcy in Jammu and Kashmir which faced months of restrictions after its special status under Article 370 was scrapped in August last year.

Siddaramaiah, who is Leader of Opposition in Karnataka Assembly, in another tweet hit out at Prime Minister Narendra Modi on the long wall built near the airport in Ahmedabad allegedly to block the view of a slum, ahead of Trump's visit.

It is time for @realDonaldTrump to get inspired from @narendramodi. Inspiration to build decorative walls to hide not so decorative life!! he tweeted. The opposition Congress in Gujarat had accused the BJP- ruled civic body in Ahmedabad of building the 500-meter long wall to block the view of a slum colony. Refuting the allegations, AMC officials had said the construction of the wall, around four feet in height, was approved much before Trump's Gujarat visit was finalised.

Trump, accompanied by First Lady Melania Trump and a high-level delegation, arrived in Ahmedabad around noon on Monday for a little less than a 36-hour-long trip.

Udupi, June 10: Philanthropist and businessman Haji P K Abuswalih Kannangar passed away today at a private hospital in Mangaluru. He was 85. 

He was a resident of Pombathota house at Kannangar in Kaup taluk of Udupi district.

He was the proprietor of Green Store in Mudigere for past five decades and also was a coffee planter. 

He had served as the president of Muhayaddin Juma Masjid at Mudigere Hand-post in the past. He was also former president of Mudigere Taluk unit of Indian National Congress.