Nyletech Solutions conferred with Sadana Prakasha award

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, Jul 5: A COVID-19 patient escaped from a hospital in Mangaluru on Sunday, Mangaluru Commissioner of Police Vikas Kumar.

A total of 1,925 cases of COVID-19 and 37 deaths recorded in Karnataka in the last 24 hours, taking the total number of cases to 23,474.

The health department informed that the death toll rose to 372 while active cases stood at 13,251 in the state.

According to the Union Health Ministry, India has recorded 6,73,165 numbers of COVID-19 cases and 19,268 deaths. 

Kolkata, Feb 2: A protester at Park Circus, known as Shaheen Bagh of Kolkata, died last night after she fell ill during her agitation against CAA, NRC and NPR.

The woman has been identified as Sameeda Khatun (57) who was a resident of Entally area of the city. According to protesters, Khatun who was asthmatic patient died after suffering a cardiac arrest. She is survived by husband and eight children.

Around 250 women from Kolkata have been holding a peaceful sit-in at Park Circus Maidan since January 7 to protest against CAA, NRC and NPR and demanding the withdrawal of the new citizenship law.

Research Scholar at Rabindra Bharati University, Nousheen Baba Khan who has been spearheading the Park Circus protest since the beginning, told the newspaper, “Sameeda Khatun was a regular face at the protest and she was not well as she had asthma.

Last evening she came to me complaining that she is having trouble in breathing. We immediately took her to Chittaranjan Hospital where doctors said she had suffered a cardiac arrest. We later took her to Islamia Hospital where doctors declared her brought dead,” said Khan.