Siddaramaiah challenges BSY himself to contest from Varuna and win

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, Jan 23: Members of the Social Democratic Party of India (SDPI) on Thursday held a protest against the Karnataka government, accusing it of shielding Aditya Rao, the main accused of planting an improvised explosive device (IED) at the Mangaluru airport on January 20.

Meanwhile, the Judicial Magistrate First Class (JMFC) Court has sent the accused Aditya Rao to 10 days police custody.

Earlier on Wednesday, the Bengaluru Police said that the procedure is being followed to hand-over to the Mangaluru Police a suspect who surrendered before it two days after planting an improvised explosive device (IED) at the Mangaluru International Airport.

The IED was later defused in an open field by the personnel of the bomb disposal squad.

Bengaluru, May 23: The Karnataka government on Friday said returnees from six states with high COVID-19 cases will be kept in institutional quarantine for seven days.

The states are - Maharashtra, Gujarat, Delhi, Tamil Nadu, Rajasthan and Madhya Pradesh.

As per the standard operating procedure released by the government, all people to arrive via rain, air road are expected to quarantine.

After they test negative for the disease in pool testing, they will be sent for home quarantine for another seven days, the government said.

Returnees from other low prevalence states will be asked to follow 14 days of home quarantine, according to the standard operating procedure (SOP) for entry of persons from other states to Karnataka issued by the state health department late on Friday night.

However home quarantine is allowed for pregnant ladies, people above 80 years, patients with comorbidities and children below 10 years of age, along with one attendant after they test negative.

In special cases like businessmen coming for urgent work, the quarantine period will be waived if they furnish a report from an ICMR-approved laboratory showing they tested negative for COVID-19, it said.

However, if they don't have reports, they will have to stay in institutional quarantine and can leave once their results test negative.

In case their stay exceeds 5 days, they will be sent to the fever clinic and get a five-day extension if found asymptomatic.

The report should not be more than two days old from the date of travel.

All Karnataka returnees who entered from 4 May will be tested from 5-7 days from the time of their arrival.

If found COVID-19 negative, they will be sent to home quarantine and will have to follow due precautions, the SOP stated.