The Shepherd International Academy project takes off in Manglauru suburbs

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.

Mangaluru  Mar 27: Thinking that he might have contracted the coronavirus infection, a 55-year-old man has committed suicide in Bantwal taluk of Dakshina Kannada district.

The deceased has been identified as Sadashiva Shetty, a resident of Abbettu under Meramajalu village. He was working in a petrol bunk.

It is learnt that Sadashiva suspected that he might have come in contact with coronavirus infected people while working in the petrol bunk.

He was scared that the same might get transferred to his family members through him. 

He was depressed for past few days. Today, he hanged himself from the ceiling fan of his house, sources said.

A case has been regarded at the Bantwal rural police station and investigations are on.

Bengaluru, Jul 21: Karnataka Chief Minister B S Yediyurappa on Tuesday said that everyone has to fight COVID-19 while maintaining a stable economy and lockdown is not the solution.

While briefing the media after a meeting with Health Minister B Sriramulu and officials here, CM Yediyurappa said, "There will be no lockdown from tomorrow, people need to get back to work, the economy is also very important. We have to fight COVID-19 while maintaining a stable economy. Lockdown is not the solution, now restrictions will be placed only in containment zones."

"People who came from Maharastra and Tamil Nadu added to the COVID-19 cases in Karnataka. Experts have suggested a 5T strategy - Trace, Track, Test, Treat and Technology. Our COVID warriors are working day and night to safeguard the people of the state, we have to maintain social distance, wear a mask while going out," he added.

CM Yediyurappa further said that more than 80 per cent COVID-19 cases in the state are asymptomatic.

"Five five per cent need ICU or ventilators, 11,230 beds are kept ready for the use of people including private hospitals, medical colleges. The real-time dashboard is ready to serve the people. Now onwards, test report will be given within 24 hours. SSLC exams were conducted successfully. More than 8 lakh students wrote exams in such a situation," he said.

Commenting upon the allegations of COVID-19 mismanagement labelled by opposition leaders, CM Yediyurappa said, "I request all the opposition leaders not to make unnecessary comments. I request Siddaramaiah, D K Shivakumar and others to suggest us valuably to fight corona together."

"We will give all the details which are required to D K Shivakumar, Siddaramaih, H D Kumaraswamy. Not even one-rupee corruption is done in COVID-19 management. We will give you all details. No official misused any funds, being opposition leaders, you have all rights to check documents, we will provide them," he added.

Taking to Twitter, Health Minister B Sriramulu said that the decision to raise the salary of 2,000 AYUSH doctors to Rs 45,000 was taken in the meeting.

"The decision to raise the salary of 2000 AYUSH doctors to Rs 45,000 was taken at a meeting chaired by our Hon. Chief Minister Shri @BSYBJP. Assurance has been given that the demand of private AYUSH doctors too will be reviewed and a decision regarding the same will be taken at the earliest. All doctors who were protesting for the same have withdrawn their resignations and reported to work," he tweeted.