Those who shamed party in past may miss BJP ticket now

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, Apr 30: Karnataka has decided to allow all industries located outside COVID-19 containment zones to operate from May 4, Chief Minister BS Yediyurappa said Thursday, even as he cautioned that the coronavirus crisis may last another couple of months.

“We feel that the COVID-19 menace is reducing and coming under control in the state. In Bengaluru, not many cases have been reported in the last 3-4 days. If this continues, it’ll help us open up industries in and around Bengaluru also. We’ll wait for another 2-3 days,” Yediyurappa told reporters after chairing a meeting of the Cabinet.

Yediyurappa and Industries Minister Jagadish Shettar are scheduled to meet industry captains on Thursday evening to discuss resuming operations from May 4.

"It won't be a surprise if the corona continues for another 2-3 months. However, based on Prime Minister Narendra Modi's directions, stringent lockdown measures (at red zones) and reviving economic activity will go hand in hand," Yediyurappa said.

The Cabinet decided to allow one-time inter-state or inter-district movement of people and labourers stranded due to the Covid-19 lockdown. The move will also benefit students and others who want to return to their native states or districts.

The government will also allow people from Karnataka residing in other states to return only if they are tested negative for Covid-19, Law Minister JC Madhuswamy said. An official order for this will be issued by evening today.

"Expenses should be covered by those wishing to travel. The government is willing to arrange buses for their benefit," Madhuswamy said. The government will provide a license to anyone who wishes to go, he said.

Having relaxed norms for industries outside red zones to resume operations, Madhuswamy said that inter-district passes will be issued to the top management of these units to travel from their homes to workplaces.

Liquor outlets, saloons and restaurants will remain closed till May 3, after which the government will take a call based on directions issued by the Centre.

“Opening of malls and hotels is not an option before us right now. But all hotels can give parcels,” Yediyurappa said. “I’m confident that the PM will allow the resumption of all activities.

He has already said that corona (containment) and economic activities will have to go hand in hand. So, I’m expecting the Centre to make some favourable decisions,” he added.

Bengaluru, Jul 4: Karnataka on Saturday reported its biggest single day spike of 1,839 new COVID-19 cases and 42 related fatalities, taking the total number of infections in the state to 21,549 and the death count to 335, the Health department said.

The day also saw 439 patients getting discharged after recovery; even as 226 patients in the state were undergoing treatment in ICU.

Out of 1,839 fresh cases reported on Saturday, a whopping 1,172 cases were from Bengaluru Urban alone; while 24 of the 42 deaths were from the capital city.

The previous biggest single day spike was recorded on July 3 with 1,694 cases.

As of July 4 evening, cumulatively 21,549 COVID-19 positive cases have been confirmed in the state, which includes 335 deaths and 9,244 discharges, the Health department said in its bulletin.

It said, out of 11,966 active cases, 11,740 patients are in isolation at designated hospitals and are stable, while 226 are in ICU.

Among the 42 dead are six from Bidar, four from Dakshina Kannada, three each from Kalaburagi and Dharwad and one each from Hassan and Bengaluru rural.

Of the 42, twenty-six are men, the bulletin said, adding most of them were with a history of Severe Acute Respiratory Infection (SARI), Influenza-like illness (ILI).

Out of 1,839 cases tested positive today, contacts of the majority of the cases are still under tracing.

Among the districts where the new cases were reported, Bengaluru Urban accounted for 1,172 cases, followed by Dakshina Kannada (75), Ballari (73), Bidar (51), Dharwad (45), Raichur (41), Mysuru (38), thirty seven each from Kalaburagi and Vijayapura, thirty-five each from Mandya and Uttara Kannada.

Bengaluru Urban district tops the list of positive cases, with a total of 8,345 infections, followed by Kalaburagi 1,597 and Udupi 1,276.

Among discharges, Kalaburagi tops the list with 1,189 followed by Udupi (1,103) and Bengaluru Urban (965).

A total of 6,89,526 samples were tested so far, of which 17,592 were tested on Saturday alone.

So far 6,50,876 samples have been reported as negative, and of them 15,294 were reported negative today.