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."
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Coffee Day gets first tranche of Rs 2,000-cr after disinvestment in GV Techparks
News Network
March 30, 2020
Private buses resume services in DK, Udupi after 70 days
coastaldigest.com news network
June 1,2020
Mangaluru, June 1: The private bus services resumed services in Dakshina Kannada and Udupi districts today with 15 per cent hike in the fares. For 70 days these buses were stayed off the roads as lockdown was imposed in the region on March 22 in the wake of covid-19 outbreak.
Buses were sanitised in the morning. The bus operators have decided to operate only a few of the buses initially.
Of the about 2,000 service buses (inter-district buses and long-route buses within the district) of private operators in Dakshina Kannada and Udupi, only 25% resumed services. Only 135 out of 320 city buses in Mangaluru resumed services.
The number of passengers on board the buses were also very less in the morning. A few buses had arranged sanitisers for passengers, drivers and conductors.
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Dexamethasone is a life-saving coronavirus drug, claim Oxford scientists
News Network
June 16,2020
University of Oxford researchers have claimed that a cheap and widely available drug called dexamethasone can help save the lives of patients who are seriously ill with coronavirus.
Scientists working on the Recovery Trial found the drug could help patients on ventilators and oxygen, but had no effect on those who did not need help breathing.
“Based on these results, one death would be prevented by treatment of around eight ventilated patients or around 25 patients requiring oxygen alone,” researchers said in a statement.
Matt Hancock, the health secretary, tweeted: “This global first exemplifies the power of science.”
“I’m absolutely delighted that today we can announce the first successful clinical trial for a treatment for Covid-19,” Mr Hancock said.
Recovery Trial experts said a randomised group of 2,104 patients was given 6mg of dexamethasone per day for 10 days, while another group of 4,321 were given normal treatment.
Dexamethasone reduced deaths by one-fifth in patients on oxygen feeds and by one-third in those who needed a ventilator to breathe, preliminary results showed.
Mr Hancock added: “This is a huge step forward and it’s because we’ve backed the science.”
Martin Landray, professor of medicine and epidemiology at the Nuffield Department of Population Health, University of Oxford, and one of the trial’s chief investigators, said in a statement: “These preliminary results from the Recovery Trial are very clear – dexamethasone reduces the risk of death among patients with severe respiratory complications.
“Covid-19 is a global disease – it is fantastic that the first treatment demonstrated to reduce mortality is one that is instantly available and affordable worldwide.”
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Trials of drug dexamethasone in Covid-19 cases have brought success in saving lives , claim Oxford University scientists on 16 June 2020.
According to news reports on 16 June , 2020 , Oxford University Scientists have conducted trials on anti-inflammatory steroid Dexamethasone in Covid-19 cases. Results released by the Oxford University on 16 June 2020 say that the low-cost and easily available drug saves the people seriously infected by Coronavirus , cuts the death risk by a third for those on ventilators and by a fifth for those on oxygen. The commentary on the drug reads like this :-
“ This is a tremendous news today from the recovery trial showing that dexamethasone is the first drug to reduce mortality from Covid-19. It is particularly exciting as this is an inexpensive widely available medicine. This is a ground breaking development in our fight against the disease and the speed at which researchers have progressed finding an effective treatment , is truly remarkable. It shows importance of doing high quality clinical trials and basing decisions as the results of those trials”.
Covid-19 has taken into its grip the entire world during first half of the year 2020 , infecting lacs and killing also lacs of its patients. In the absence of an effective drug or vaccine , people had no choice other than to look up to the heavens or scientists to come with some cure. And the drug described here is the first one to respond to the prayer of the global community , it seems. As regards a vaccine , only few are claiming that it can come by the end of the present year 2020. Rather , some are of the view that it may take a larger part of the year 2021 and could even go to mid-2022. Whatever that scenario about prospect of arrival of vaccine to treat Covid-19 may be , the news that was broken on 16 June 2020 by the Oxford University scientists in relation to drug dexamethasone would have sent a wave of strength and hope among people world-wide. And this Vedic astrology writer was spirited for another reason as well - a prediction of when some relief by way of drug to fight Covid-19 may appear , having come accurate in the claim announced by Oxford University on 16 June 2020. This writer had , based on interpretation and application of Vedic astrology , contributed in early April , 2020 an opinion piece - “ Some searchlight on way out of Covid-19 presently tormenting mankind” - to a number of newspapers. It was also contributed on 11 April , 2020 using the ‘ comments’ column of article -‘ Heard Charles took Ayurveda treatment-based Ayush drugs for Covid-19’ - at theprint.in/india/looking-at-evidence-based-ayush-medicines-to-treat-covid-19-minister-shripad-naik/393407/. The text in the opinion piece related to the claim of success announced by Oxford University scientists on 16 June , 2020 , reads like this :-
“ So reading in between the lines , it can be said that some effective drug or remedy can arrive by mid or towards the last week of June 2020 to provide some relief during July to September 2020 , to some good extent”.
The point this writer wants to share with readers world-wide is that yes , a drug envisaged in the aforesaid prediction has appeared on the horizon in the claim announcement of Oxord University scientists on 16 June , 2020.
Bio :-
Kushal kumar ,
202-GH28 , Mansarovar Apartments ,
Sector 20 , Panchkula-134116 , Haryana,
India.
Note :- This writer’s significant predictive work covering 2020 about the U.S. and Italy
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Expats in dilemma after Saudi Arabia says no re-entry till the end of corona crisis
coastaldigest.com news network
June 24,2020
Riyadh, June 24: Thousands of expatriates who managed to return to their home countries from Saudi Arabia during covid-19 lockdown are now in a dilemma as the Kingdom has clarified that it will not allow their re-entry till the end of the corona crisis.
The Directorate General of Passports (Jawazat) announced on Tuesday that the mechanism to resume extension of the exit and re-entry visas for expatriates who are outside the Kingdom will be announced only after the end of the pandemic crisis.
The Jawazat stated this on its Twitter account while responding to queries from a number of expatriates who are currently outside the Kingdom and whose exit and re-entry visas have expired.
They inquired about the possibility of returning to the Kingdom after the resumption of international flight service.
The Jawazat reiterated that the return of expatriates who left Saudi Arabia will be only after the end of the pandemic and in accordance with the process to obtain a valid re-entry visa.
The directorate said that in the event of any new decisions or instructions in this regard, they will be announced through the official channels.
It is noteworthy that the Jawazat had previously confirmed that its electronic services are continuing through the Absher and Muqeem online portals of the Ministry of Interior and that the service for messages and requests is still available and continuing through Absher for all the beneficiaries of its services.
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