Rs 120 cr hidden income, Rs 1.10 cr cash, 10 kg gold detected in I-T raids on MLA

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, Jan 7: Karnataka Chief Minister BS Yediyurappa on Monday said the much-awaited cabinet expansion will take place in about a week to 10 days and that he wants to complete the exercise before his proposed visit to Davos to attend the World Economic Forum meet later this month.

"Cabinet expansion has to be done in a week or 8-10 days. There is also information that Amit Shah will be coming to Bengaluru on January 16 or 18. Before that I will go to Delhi and get things cleared and will expand the cabinet at the earliest," Mr Yediyurappa said.

Speaking to reporters in Bengaluru, he said he wanted to complete the exercise before his Davos visit.

"I will make all efforts to expand the cabinet before that," he said.

With Mr Yediyurappa making it clear that 11 of the disqualified JDS-Congress MLAs who got re-elected in the December 5 bypolls on BJP tickets will be made ministers, lobbying has been on within the party for the remaining ministerial berths.

Currently, there are 18 ministers, including the Chief Minister, in the cabinet that has a sanctioned strength of 34.

Cabinet expansion will not be an easy task for the Chief Minister as he will have to strike a balance by accommodating the victorious disqualified legislators as promised and also make space for the old guards, upset at being "neglected" in the first round of the induction exercise.

He also has to give adequate representation to various castes and regions in his cabinet and also deal with the allocation of key portfolios.

The Chief Minister, who has indicated that the ministry expansion may take place any time after Sankranti, is likely to travel to Davos on January 20, according to sources.

BS Yediyurappa, along with Union ministers Piyush Goyal and Mansukh Mandaviya, as well as Chief Ministers Amarinder Singh, Kamal Nath, are expected to join over 100 Indian CEOs at Davos in Switzerland later this month for the WEF's 50th annual meeting, which will be attended by thousands from across the globe.

Newsroom, Feb 7: Prime Minister Narendra Modi’s recent statement that there is no detention camp in India is no more a lie. That doesn’t mean that there are no detention camps in the country, but the name of the camps have changed. 

In December, at a mega rally at Ramlila Maidan, meant to launch the BJP's campaign for the assembly elections in Delhi, Mr Modi had stated: “The rumour of detention centres being spread by the Congress and urban Naxals is totally false. This is being done with a bad intention to destroy the country, it’s filled with evil motives; this is a lie, lie, lie.” He had further claimed: “Neither are any of the country’s Muslims being sent to detention centres nor is there any detention centre in India”

In reality there are at least six detention camps in jails in Assam to house foreigners found staying in India illegally. A month prior to PM’s statement, Union minister of the state for home affairs Nityanand Rai had revealed that the six camps in Assam housed 1,043 foreigners — 1,025 Bangladeshis and 18 Myanmarese. Apart from these, at least ten new detention centres are coming up.

Outside Assam too, the Maharashtra government, under the then chief minister Devendra Fadnavis, had identified land for the state’s first detention centre for illegal immigrants.

Besides, in a case relating to illegal immigrants in Karnataka High Court in November this year, the Centre had told the court that it had written to all state governments in 2014 and sent a follow-up letter in 2018 to have detention centres to house foreign nationals illegally staying in India.

Karnataka’s first detention centre, apparently meant to lodge illegal immigrants and migrants overstaying in the country, is already open in Sondekoppa village on the outskirts of Bengaluru. The facility with several rooms, a kitchen and toilets has been kept ready on the directions of the government. 

Meanwhile, Union Minister of state for home Nityanand Rai has told the Lok Sabha that the name "detention centre" has now been changed to "holding centre".