Manipal residents voice concern over new bar

Mangaluru, Jan 3: S Cube Art Gallery has successfully concluded its prestigious assignment from Airports Authority of India (AAI) to beautify Mangaluru Airport with artistic works. AAI had invited tenders for various jobs to be executed in the airport premises. S Cube Art Gallery had made a competitive bid which was subsequently followed up with presentation before selection panel and award of contract. S Cube Art Gallery bagged the contract for six works in two sectors out of the total four sectors for which the tender had been called.

The themes presented by S Cube Art Gallery showcase the Tulu culture and heritage of the people of Coastal Karnataka. The six themes selected are:

1. ‘Human Hand Flying Paper Plane’ – fibre glass and steel sculpture work installed in the circle in the outer precincts of the airport. This is a larger than life sculpture signifying the dreams and aspirations of the air travelers. Artist: Harish Kodialbail, Mangalore

2. ‘Kambala’ – fibre glass sculpture installed at the exit area of the airport. This sculpture is meant to introduce ‘Kambala’, the iconic folk sport of the region to the visitors and tourists. Artist: Harish Kodialbail, Mangalore

3. ‘Fisherman with Boat’ - fibre glass and steel sculpture installed at the entrance to departures lounge of the airport. It symbolizes the fishing culture of the coastal region depicting the soaring aspirations, life of courage and adventure as well as the daily struggles of the fisher folk. Artist: Harish Kodialbail, Mangalore

4. ‘Tiger Dance’ - fibre glass and steel sculpture installed at the arrivals lounge of the airport. This work depicts the world famous ‘Mangalore Pilivesha’ showing tiger dancers in various typical postures to the visiting tourists. Artist: Harish Kodialbail, Mangalore

5. ‘Folk Art Forms’ – six individual terracotta sculptures with Tulunadu cultural themes installed alongside the domestic and international corridors of the airport. Artist: Venki Palimaru, Udupi

6. ‘Jain Miniature Paintings’ – Jain miniature paintings (18x6 feet) – Two works of acrylic on canvas displayed on the wall on either sides of the exit area. The work was conceived after referring to authentic traditional Jain paintings in Moodbidri Jain Mutt and Shravanabelagola Mutt. Artist: Reshma S. Shetty, Mangalore

The total value of the contract was Rs. 56 lakhs. The work was completed over a period of six months and concluded in the month of July, 2019.  S Cube Art Gallery is grateful to the Airports Authority of India for giving the opportunity to participate in this project and showcase the artistic talents of the region.

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."