Hindutva workers may take up swords if they lose faith in police: RSS leader

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."

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.

Bengaluru, May 18: Indian food delivery startup Swiggy said on Monday it would lay off 1,100 employees, or nearly 14% of its workforce, to cut costs, as a weeks-long nationwide lockdown to curb the coronavirus outbreak hits demand for online food ordering.

The company, backed by South African internet giant Naspers, also said it will scale down adjacent businesses and has already shut several of its cloud kitchens - facilities that only cater to takeaway orders - temporarily or permanently.

“The core food delivery business has been severely impacted and will stay impacted over the short term, but is expected to start growing again after that,” said Sriharsha Majety, co-founder and chief executive at Bengaluru-based Swiggy.

Swiggy, one of India’s best known startups, is among many that are laying off employees and reshaping their business in response to the COVID-19 pandemic, which has forced 1.3 billion Indians indoors and crippled business.

India is currently under a two-month lockdown, and though several curbs are being eased, public places such as restaurants remain closed, hurting restaurants themselves as well as companies such as Swiggy and main rival Zomato.