Watch row: Cong high command not happy with CM's explanation

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, Mar 10:  Country’s economic condition is not permanent. All young entrepreneurs can be forward looking persons, because all bad times are followed by good times. In fact, it is good time to start your own industry, said Nitte Deemed to be University Chancellor Dr. N Vinaya Hegde. 

Addressing the gathering after inaugurating a three-day entrepreneurship symposium organized by Mangalore University and Department of M. Com and MBA, University Evening College at University College Mangalore here on Monday, he said that entrepreneurship is something you enjoy. You should belief that there is something in you to achieve your area of choice. You should get pleasure out of it. 

Ex-MLC Capt. Ganesh Karnik believed that our population is definitely a resource, but symposiums are needed to convert ideas to implementation. Coastal Karnataka is best example for successful entrepreneurship in health, education sector, he added. 

Presiding over the function, Mangalore University Vice Chancellor Prof. P Subrahmanya Yadapadithaya said that students should be universally compassionate before being an entrepreneur. There will be challenges, failures in entrepreneurship. One should trust himself, and should have courage and confidence to be innovative. One should have aspiration and passion for excellence, he added.

Young scientist, international awardee Swasthik Padma was felicitated on the occasion. Evening college Principal Dr. Ramakrishna B M, Coordinator  Dr. Yathish Kumar were present among others. Kavya P Hegde mastered the ceremony, Venkatesh Nayak presented vote of thanks.

Mangaluru, Feb 16: An elderly woman from Tamil Nadu was on Saturday reunited with her daughter and son after 14 years at the Mangaluru's White Doves destitute home.

"Mary only knew her name when she came here 10 years ago. Recently, she told us about her home town," Corrine Rusquinha, founder of White Doves told media.
Mary had gone missing 14 years ago from her hometown Kortampet in Tamil Nadu.

"Ten years ago, she was spotted by Mangaluru police who brought her to White Doves home late one evening. Initially, she could only speak Tamil, so it was presumed she was from Tamil Nadu. She was on psychiatric treatment," Rusquinha said.

A few days back, a visiting priest at the White Doves home spoke to Mary in Tamil and asked about her hometown.

"Surprisingly, she could recall the name of her hometown, following which the visiting priest contacted the pastor at Kortampet. Mary's family, including her daughter Gnana Anthony, who is a paramedic student in Coimbatore, was informed about Mary," she said.

Soon after, Gnana and her elder brother came to Mangaluru to take their mother back to their home.

Mary's husband Jhonson, who worked as a cook, had died within a year of losing his wife.