SDPI, PFI disturbing peace in Karnataka with the support of Congress: Sriramulu

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, July 25: A 105-year-old person from Bengaluru’s Basaveshwar Nagar, who was under treatment for covid-19 at a hospital for past five days, breathed his last today. He was a former government account who retired in 1973. He was the oldest known covid-19 patient in the state so far.

Many members of the patient's family are said to be infected and are hospitalised at various facilities. The funeral will be overseen by two uninfected family members.

The patient 74411 died on Saturday morning at around 9 a.m., said Dr Prasanna, Managing Director of Pristine Hospital And Research Centre where the former was admitted.

“The patient was initially doing well when he admitted on July 20. He did not have significant lung changes when he was admitted. However, after three days, his blood pressure started to drop so he was put on oxygen in the ICU. Yesterday morning, with continued deterioration, he was placed on non-invasive ventilator support,” Dr Prasanna said.

“Finally, by last night, his oxygen saturation levels began to plummet abruptly and we had to intubate him for ventilator support. His condition continued to deteriorate, however. The cause of death was respiratory failure and the onset of sepsis,” he added.

Although earmarked for supplies of Remdesivir by the government, the hospital did not receive the drugs. An appeal to Dr K Sudhakar, Minister of Medical Education by the hospital staff resulted in an assurance that the medication would arrive. “However, in the end, we had to source the medication ourselves on Friday,” medical staff said.

Dr Thrilok Chandra, Head, Critical Care Support Unit (CCSU), which oversees the care of critical or vulnerable-aged Covid-19 patients, had said that Patient 74411 had been diagnosed early. “He was identified when the disease was still in the early stages in his body. He only had symptoms of Influenza-Like Illness (ILI), so the symptoms were not severe,” Dr Chandra had said.

“It’s very sad. We were rooting for him to pull through. He had no comorbidities at all. He had been bed-ridden from last year, but he was healthy. His only potential comorbidity was his advanced age,” Dr Prasanna said.

According to government data, 34% of Covid-19 fatalities in India are aged between 60 and 74 years of age. Fourteen per cent are aged above 74.

Udupi, Jul 20: Five COVID Day Care Centres have been opened here on Monday with combined 870 bed for asymptomatic Covid-19 patients.

The Centres are set up at Karkala (1), Udupi (3) and Kundapura (1). Presently more than 100 patients are being treated in these Centres.

These Centres have been opened in the wake of high incidences of Covid-19 cases in the district. They are set up for asymptomatic patients who do not wish to be treated at home.