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Bengaluru, Jul 26: A year-long probe by Coffee Day Enterprises Ltd (CDEL) has found that its late founder V G Siddhartha routed Rs 2,693 crore out of the company to Mysore Amalgamated Coffee Estates Ltd (MACEL), another privately-owned entity of him.

The MACEL owes Rs 3,535 crore to subsidiaries of Coffee Day Enterprises as of July 31, 2019 of which only Rs 842 crore was accounted.

"Therefore, a sum of Rs 2,693 crore is the incremental outstanding that needs to be addressed," said the report of an investigation headed by Ashok Kumar Malhotra, a retired DIG of Central Bureau of Investigation (CBI) and assisted by law firm Agastya Agastya Legal.

Siddhartha was found dead in early August 2019, and many suspected that he had committed suicide.

Steps are being taken by subsidiaries of CDEL for recovery of dues from MACEL, the company said.

"The board authorised the Chairman to appoint an ex-judge of the Supreme Court or the High Court, or any other person of eminence, to suggest and oversee actions for recovery of the dues from MACEL and to help on any other associated matters," it said in regulatory filings at stock exchanges late on Friday.

The probe further gives clean chits to the Income Tax Department and the private equity firms who Siddhartha in his parting letter had alleged of harassment.

"We have not been provided with any documentary evidence to draw an inference that there may have been any advertent or inadvertent harassment from the Income Tax Department," said the probe report.

The probe also highlighted severe liquidity crunch at CDEL in the build-up to Siddhartha's death.

A committee supported by senior professionals was formed to protect the interest of all stakeholders. CDEL said the debt levels which were about Rs 7,200 crore on March 31, 2019 have been brought down significantly by Rs 4,000 crore. The present debt of the group is around Rs 3,200 crore.

"The disinvestment process in the group continues and we are confident to have effective solution to all stakeholders," it said.

Bengaluru, May 15: With lockdown-3 coming to an end in a couple of days, Karnataka Chief Minister B S Yediyurappa on Friday expressed confidence about the Centre announcing relaxation to "many things" after May 17.

"After May 17, the government of India is going to relax so many things, let us wait for it," he said in response to a question from reporters here. "According to me they (centre) will relax everything.... maybe for things like five-star hotels and others they may not give permission for the time being, but for other things they are going to give permission. Let's wait and see."

The nationwide lockdown was initially imposed from March 25 to April 14, then extended to May 3 and again to May 17 to prevent the spread of the novel coronavirus. Karnataka Tourism Minister C T Ravi on Wednesday had hinted at the state government permitting the opening of gyms, fitness centres and golf courses, also certain hotels for local tourism purpose after May 17, when the third phase of the COVID-19 induced lockdown comes to an end.

The Muzrai department (in charge of the administration of temples) was also planning to have a Standard Operating Procedure (SOP) in place, that needs to be followed at temples once they are opened for the public, officials have said. They said the opening of temples for the public is however subject to the MHA (Ministry of Home Affairs) guidelines.

During the recent video conferencing Prime Minister Narendra Modi had with Chief Ministers of various states, Yediyurappa had proposed doing away with district wise colour-coding and instead advocated strict cordoning of containment zones to control the spread of the pandemic.

He had pitched for resuming all economic activities in stand-alone establishments while continuing the restrictions on malls, cinema halls, dining facilities and establishments with centrally controlled air-conditioning. The CM had suggested that 50 to 100 meters around known clusters be declared as containment zones and commercial activities, including public transport, to be allowed in non- containment zones.

Mangaluru, May 9: Dakshina Kannada District Collector Sindhu B Roopesh on Friday held a meeting to discuss the precautionary measures to be taken to prevent the spread of COVID-19 and the current situation in the district.

The meeting was attended by Member of Parliament and Karnakata BJP unit chief Nalin Kumar Kateel, Minister-in-charge of Dakshina Kannada Kota Srinivasa Poojary, MLA Vedavas Kamath and District Medical Officer Dr Ramachandra Bauri among others were present there.

Top officials of the police department, labour department officials and other concerned persons were also present in the meeting.