Dubai: Bearys Chamber of Commerce & Industry all set to open its UAE chapter

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, May 22: An elderly cardiac patient from Dakshina Kannada, who was stranded in Saudi Arabia due to covid-19 lock-down, has finally reached his homeland thanks to the timely intervention by Humanity Forum Jubail and Indian Social Forum.

The elderly man hailing from Kadaba area of Dakshina Kannada was admitted to a hospital in Madinah. However, his condition continued to worsen due to lack of proper treatment. The efforts by his family members to bring him back home had not yielded results.

Meanwhile, one of the relatives of the patient, Ansari Suratkal, who happens to be a DKSC activist, brought the issue to the notice of the Karnataka unit of the Indian Social Forum in Dammam. ISF contacted Humanity Forum president Zakariya Jokatte, who helped the patient to speak directly union minister D V Sadananda Gowda in a video conference organised by coastaldigest.com.

Humanity Forum also persuaded the Indian Embassy to allow the stranded cardiac patient to fly back to India through Dammam-Bengaluru repatriation flight on May 20. 

However, it was not easy for the patient to travel from Madinah to Dammam International Airport due to lock-down and curfew. ISF not only obtained travel permission for him but also arranged vehicle. Jeddah and Riyadh units of ISF helped in obtaining permission letter in their respective places in spite of travel ban imposed by the police. Madinah unit of ISF arranged vehicle for transportation. Zakariya Jokatte bore the air ticket and other expenses of the patient.

Bengaluru, Jul 3: Over 35 acres of land in nine villages on the outskirts of Bengaluru have been earmarked for burial and cremation of bodies of COVID-19 victims after concerns were raised over the safety of funerals being held in burial grounds located in residential areas.

Deputy Commissioner of Bengaluru Urban District GN Shivamurthy issued an order setting apart about 35.5 acres in the villages under four Taluks of Bengaluru North, Bengaluru South, Anekal and Yelahanka.

The order directed the respective Tahsildars to register these chunks of land as reserved for burial grounds and not to use for any purpose.

According to the sources in the district administration, Karnataka Health Minister B Sriramulu and Revenue Minister R Ashoka had directed the officials to identify places on the city outskirts to dispose of the bodies of COVID-19 victims.

Mr Sriramulu had on Wednesday said COVID-19 victims will not be laid to rest in burial grounds in the city and separate places will be earmarked on the outskirts in the backdrop of safety concerns raised by public.

He had also warned against unscientific disposal of used Personal Protection Equipment kits worn by the families of the victim for the final rites, referring to reports about such instances.

In some places, people have also expressed concern over bodies of those who died of the coronavirus being buried in their neighbourhood.