Muharram flag triggers communal clash: 2 corporators among 31 arrested

New Delhi, Jul 25: Nearly a year after Cafe Coffee Day founder V.G. Siddhartha's death, the probe committee appointed by the Board of Coffee Day Enterprises Ltd (CDEL) has given a virtual clean chit to private equity investors and the Income Tax Department who were named in his last letter.
The investigation report noted that Siddhartha may have felt "aversive behavioural stimulus" due to persistent reminders from the PE investors and other lenders.

"However, such reminders and follow-ups by the PE investors and lenders are not something which are beyond normal industry practices and we believe that PE investors were acting as per accepted legal and business norms," said that report.

It further said that the investigators were not provided with any documentary evidence to show any "advertent or inadvertent harassment" from the Income Tax Department.

It however, said that the financial records suggest a serious liquidity crunch which may have arisen due to the attachment of Mindtree shares by the IT Department.

Further, the probe revealed that MACEL, a private firm of Siddhartha, owes Rs 2,693 crore to Coffee Day Enterprises, which the report says, "needs to be addressed".

The Cafe Coffee Day founder's body was fished out of the Netravathi river in Karnataka by a group of fishermen on July 31 last year, a day after he went missing.

His last note raised several questions about the role of investors, and tax officials.

He had written: "Tremendous pressure from other lenders lead to me succumbing to the situation. There was a lot of harassment from the previous DG Income Tax in the form of attaching our shares on two separate occasions to block our Mindtree deal and then taking possession of our Coffee Day shares, although the revised returns have been filed by us. This was very unfair and has led to a serious liquidity crunch."

The massive shock to the industry and the country also led the government to assure that tax officials would not harass businessmen and the situation would improve.

Bengaluru,  Jul 18: Union Minister for Chemicals and Fertilizers DV Sadananda Gowda on Friday said that Government of India headed by Prime Minister Narendra Modi has been extending all possible assistance to state government in their endeavour to combat the deadly coronavirus.

In a statement released after participating in a high-level meeting chaired by Chief Minister BS Yeddyurappa in Bengaluru today, Gowda said he shared his views with the state government on how to control the spread of COVID-19 in the state in general and Bengaluru in particular.

He said the Centre was in constant touch with the state government on the issue. The centre is more than happy to extend any help further if Karnataka requires so.

"Being a Union Minister handling the Pharmaceutical Department also, I am closely monitoring the medicine demand and supply situation across the country on a day-to-day basis. The availability of required medicines including HCQ and Paracetamol is satisfactory in all states including Karnataka. Also, there has been enough lifesaving drugs in our Jan Aushadhi Kendras all over India. Over 600 such outlets exist in Karnataka alone," he said.

"If there is any issue related to medicine shortage or overpricing, one can bring it to my knowledge or call PMBJP tollfree number 18001808080 or NPPA number 18001112550 / 011-23345118 / 011-23345122. The grievances will surely be resolved to everybody's satisfaction" added the minister.

With related to state governments or private agencies seeking to import emergency medicines, medical equipment etc., Gowda assured, we would facilitate required licences without any delay.

"I strongly feel that it is our collective responsibility to use everything in our armour to defeat the pandemic. We also seek public support in this mission. Together, we will win," he said.

Bengaluru, Apr 1: The Opposition Congress leader in the Karnataka Assembly, and former Chief Minister Siddaramaiah has appealed the party legislators and MPs to contribute a minimum rupees one lakh each, towards the KPCC's Corona relief fund.

In a statement, here on Tuesday, Siddaramaiah had stated that the COVID-19 disease had created a havoc among the people of the state, and had thrown thousands of people jobless and struggling to get access to the food grains as well as to medical aid.

The people of the state, who had battered from the unprecedented rains and floods recently, had to face another daunting challenge of the spread of COVID-19 virus across the state.