Yenepoya Foundation invites applications for scholarships

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."

Kottayam, Mar 16: A trial court in Kerala  on Monday dismissed a discharge petition filed by Bishop Franco Mulakkal, in connection with the case of alleged rape of a nun in which he is the prime accused.

In his plea filed before the Additional District and Sessions Court I, Mulakkal had claimed that prima facie there was no case to frame charges against him.

Dismissing the plea, the trial court said the bishop should stand for trial in the rape case.

The bishop's lawyer said an appeal would be filed in the High Court against the trial court order.

The prosecution had filed its objection to the plea filed by the bishop, accused of raping and sexually assaulting a nun of the same diocese.

The bishop had filed the plea just ahead of commencement of the preliminary hearing on charges against him in January this year.

The case is based on a complaint filed against the bishop by the nun.

In her complaint to the police in June, 2018, the nun had alleged that she was subjected to sexual abuse by the bishop during the period between 2014 and 2016.

The bishop, who was arrested by the Special Investigation Team which probed the case, has been charged with wrongful confinement, rape, unnatural sex and criminal intimidation.

Mangaluru, Jan 7: A ten-year-old boy who suffered severe injuries after drowning in Kadri temple pond died on Monday,

Police said that the deceased has been identified as Sandesh, resident of Athani taluk.

Sandesh drowned while taking a dip in a pond at Kadri Shree Manjunatha Temple on Sunday evening. He was immediately rushed to the hospital in the city, however, he died on Monday morning after he stopped responding to the treatment.