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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 18: Karnataka education minister S Suresh Kumar on Monday announced the SSLC examination dates. Earlier, Karnataka SSLC examinations were to be held between March 27 and April 9, 2020, but had to be postponed due to the outbreak of Covid-19 pandemic and the subsequent lockdown.

The minister announced that Karnataka Secondary Education Examination Board (KSEEB) will conduct SSLC examination between June 25 to July 4 and the PUC exam for English paper will be held on June, 18, 2020.

"Examinations for Secondary School Leaving Certificate (SSLC) will be conducted between June 25 and July 4 in Karnataka. Exams for English paper of Pre-University Course (PUC) will he held on June 18: Karnataka Education Minister S Suresh Kumar," ANI tweeted.

The minister for primary and secondary education had held a meeting with the department officials to discuss the feasibility of conducting the exam.

Modalities of conducting the examination in the current situation of the COVID 19 pandemic while taking care of interests of students is of paramount importance, S Suresh Kumar said adding these issues have been kept in mind while finalising the schedule.

With inter-state and inter-district mobility a major issue with public transport not available and also due to 14-day institutional quarantine norms, the minister had told TOI that an idea has been introduced to allow students appear for the examination in the district where they presently are than at their designated examination centre.

Manglauru, Jun 1: The southwest monsoon has made an onset over Kerala, marking the commencement of the four-month long rainfall season, the India Meteorological Department said on Monday.

"The southwest monsoon has made an onset over Kerala," IMD director general Mrutyunjay Mohapatra said.

The four-month monsoon season from June to September accounts for 75 per cent of rainfall in the country.

Private forecaster Skymet Weather on May 30 had declared arrival of monsoon, but the IMD had differed, saying conditions were not ripe then for such an announcement.

Orange alert

Meanwhile, coastal Karnataka’s Dakshina Kannada district, which is receiving sporadic rains for past couple of days, is on orange alert.

Deputy Commissioner Sindhu B Rupesh declared the orange alert following IMD’s prediction of heavy rainfall in the region.