Tension grips Mysuru after murder of BJP worker; Bandh being imposed

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.

Mangaluru, Apr 6: Three more COVID-19 positive cases in the Dakshina Kannada district have been recovered and discharged on Monday.

All three are Kasargod residents and were being treated in the city’s Wenlock hospital.

A 22-year-old man Bhatkal was discharged on Monday after recovering fully from the infection.

A total of 12 cases have been found COVID-19 positive in Mangaluru till now, said B Rupesh, Deputy Commissioner and District Magistrate's Office, Dakshina Kannada, on Monday.

"So far, 4 positive cases have recovered in Mangaluru, of which 3 COVID-19 positive patients have recovered and have been discharged today," said Rupesh.

He further said, "A total of 12 positive cases have been reported in the city till now."

As per the latest update by the Ministry of Health and Family Welfare, the total number of confirmed cases in the country is 4281. 151 cases are from Karnataka.

Bengaluru, May 2: JDS leader and former Karnataka Chief Minister HD Kumaraswamy accused the Mandya district administration of the surge in COVID-19 cases in the district and not quarantining 7,000 labourers who arrived here from Mumbai.

"As we know that 16,000 labourers from Mandya were working in Mumbai, out of which 7,000 people have arrived in the district. However, none of them was quarantined properly which is a violation of COVID-19 lockdown," Kumaraswamy told reporters here on Friday.

He claimed the district administration has shown "gross negligence" in their duty in following the procedure of COVID-19 as "one COVID-19 patient's dead body which was brought here from Mumbai has led to more cases in the district and those who accompanied the body have also tested positive for the virus."

Kumaraswamy appealed to the state government to strictly maintain lockdown norms and do not allow any relaxations in view of the rise in COVID-19 cases, stating that "any kind of relaxation could lead to a huge disaster."