Stench from Pachanady dumpyard makes residents' lives miserable

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."

Mangaluru, Jun 13: Around people from Bhatkal, who were stranded in United Arab Emirates due to months of covid lockdown, finally reached their hometown today. A charter flight carrying these passengers took from the Ras Al Khaimah International Airport at 11:20 PM (UAE time) yesterday and landed at Mangaluru International Airport at 4.20 am today.

After completing all the formalities, they were taken to Bhatkal in five buses arranged by Bhatkali Jamaatul Muslimeen, Mangaluru. Two hotels and a college hostel have been booked for the institutional quarantine of the returnees. 

The passengers were received at the airport by Majlis E Islah wa Tanzeem executive members, Bhatkali Jamaat Ul Muslimeen executive members, and Bhatkal Muslim Youth Federation executive members. 

Ateequr Rahman Muniri, vice president of Majlis-e-Islah wa Tanzeem and owner of UAE based Nuha General Trading LLC, had taken the initiative of sending stranded citizens of Bhatkal and surrounding regions to back home from UAE.

“After we came to know about the problems of the NRIs stranded in UAE plans were made to charter flights to send them home. I received huge support from the Bhatkal community leaders and youth here in Dubai, who gave their complete cooperation and helped with their efforts in successfully chartering the first flight," Muniri said.

Mangaluru, Jul 9: The National Highway 73 between Mangaluru and Chikmagalur was blocked after a huge tree was uprooted and fell on the road near Somanthadka near Belthangady on Thursday due to heavy rain which has been lashing the region since last three days.

The monsoon rain has shifted from the coastal belt to the hilly region of the Western Ghats leading to closure of major roads after a tree was uprooted.

Karkala BJP MLA Sunil Kumar, who was traveling to Bengaluru had to wait for a long time for the traffic to clear.

Meanwhile Chikkamagaluru Deputy Commissioner Dr Bagadi Gautam imposed ban on movement of vehicles on Charmadi ghat from 7 a.m. to 7 p.m.