Umrah-bound young NRI techie from Mangaluru killed in Saudi road crash

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 1: Karnataka government has assigned State Nodal Officers after the Ministry of Home Affairs (MHA) order regarding the inter-state movement of stranded migrant workers, tourists, pilgrims and students during the lockdown period.

The Nodal officers have also been appointed for coordination with 11 different states.

In an order issued on Thursday, Karnataka Government wrote, "To facilitate smooth and orderly movement of persons across State borders as per SOPs, the undersigned, in the exercise of powers conferred under the Disaster Management Act, 2005, and in the capacity as Chairman, State Executive Committee, hereby appoint the following officers as Nodal officers to coordinate with Nodal Officers of States/Union Territories (UTs) mentioned against their names."

Dr Rajkumar Khatri, IAS and Arun Jeji Chakravarthy, IPS will be overall in charge of the movement of stranded people from outside States/UTs to Karnataka.

N Manjunatha Prasad, IAS and P S Sandhu, IPS will be overall in charge of the movement of stranded people from Karnataka to other States/UTs.

Bengaluru, Jan 6: A delegation of Christians, led by Peter Machado, archbishop of Bengaluru, met chief minister BS Yediyurappa on Sunday and sought an amicable solution to the issue of installing a statue of Jesus Christ atop Kapalibetta in Harobele village, Kanakapura taluk.

Yediyurappa is learnt to have assured the delegation of doing the needful and said he would take a decision after the revenue department submits its report. The department is looking into various aspects of the issue, including the sanction of 10 acres of land for the purpose.

“The meeting was cordial and the chief minister lent us a patient hearing. Our only request was to settle the issue in a way that is acceptable to all sections of society,” Machado said. Congress functionary and Kanakapura legislator DK Shivakumar had laid the foundation stone for the 114-foot statue of Christ on Kapalibetta on Christmas Day at an event organised by the Harobele Kapalibetta Development Trust, which plans to install the statue.

The issue took a political hue when BJP functionaries objected, saying the land sanctioned to the trust is part of gomala (reserved for cattle grazing) land and any religious activity there would be illegal. Revenue minister R Ashoka sought a report and department officials said they would submit it in a week’s time.