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.
Comments
It is not a big deal....in Darga you wont find any God.....LOL...
Temple or dargah both are same which leads to shirk..... both believers of temple and dargah has lack of religious knowledge, instead of reading their religious books this people are believing this fraud baba, tantrik, swami, tangal, koya etc.... may Allah give hidaya to all the human beings in this earth to know the truth
I am sure that Trupti Desai is doing such unwanted acts only to get popularity. Is she really concerned about women, she should fight agaisnt dowry, killings of woman in the name of dowry, rape, misbehave by immoral police etc etc. In the same time, Desai should know that Dargah is not a holy place for Muslims and there is no need of any Muslim to pray in the Dargah. Muslim women are given freedom to pray in their home. Instead of praying at home why are they so eager to visit Dargah or Masjid. Does they want to show their beauty? why are they interested in unnecessary activities which is being supported by Desai whereas she is not interested in actual and important things. Does Desai has no other job?
Think Brothers Think ... and PONDER, is DARGAH culture allowed in ISLAM? Y are we encouraging this system of worship... which is close to the cultures of pagan worshipers...
WORSHIP ALLAH the way Prophet Muhammad pbuh taught us and follow the Sahabas RA .. When U follow the last and final prophet of ALLAH, U will not be trapped with such humiliation. When we follow our own desire... then expect such treatment ...
Prayer of the Mushriks.. There is no Darga concept in islam.
Dear Desai,
Just for your information it is one and the same, if you pray in darga or in temple it will go nowhere. worship the creator not his creation.
Add new comment