Pejawar seer suspends 'one meal a day' fast over UPCL row

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 19: The Karnataka Deputy Chief Minister C N Ashwathnarayan on Saturday inspected the country's first modular Intensive Care Unit (ICU) containers.

A notice from the Chief Minister's Office (CMO) said that the new mobile modular container ICUs, which will be used in the fight against the ongoing COVID-19 pandemic, have been created by Rinac India Limited, known for setting up sanitised operation theatres and clean rooms in hospitals.

On a pilot basis, the Deputy CM, who is also in charge of setting up COVID-care centres, said that 10 modular container ICUs will be deployed at the KC General Hospital in Malleshwaram. Each of the containers will have five beds.

Deputy CM Ashwathnarayan also said, "These mobile ICUs donated by Rinac will be useful, particularly in times of a crisis like COVID 19 or any natural calamity."

"The entry of health officials will be through an airlock, and entry of patients will be through a different door. There will be two doors for patients and can be increased if need. ICUs are fitted with cameras to monitor online from a centralized monitoring station, thereby limiting the exposure of the health personnel," the CMO informed.

The CMO further added, "the advantages of this new system are that the prefabricated modules of 5 can be shifted to any location by trailers and it is easy to deploy multiple containers to create a common facility. They are easy to clean and the airtight functionality ensures that no moisture or heat ingression happens, hence, it is easy to air-condition or ventilate."

Mangaluru, Feb 7: To stop the NRC and CAA from being implemented everyone has to fight unitedly highlighting the failures of the ruling party, said National President of Priyadarshini squad, All India National Women’s Congress Kavya Narasimha Murthy.

Addressing the workshop for the protection of Citizenship against CAA, NRC and NPR for the party workers at the Cordel Hall, Kulshekar here Thursday by district Congress party, she said, “Protests are being held everywhere against the CAA, NRC and NPR but if we only go on protesting, the ruling party will implementing divisive policies and new laws every day.

Many think that they may not be affected by the CAA, NRC or NPR and keep away from protesting against it. The congress should fight against the CAA concentrating on three approaches. We cannot fight against divisive politics by fighting only against the CAA and NRC. We need to expose the government’s failures, their divisive politics and continue our protests against the CAA, NCR and NPR.”