Karnataka CM BS Yediyurappa advertises Tier two and three cities

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."

Chamarajanagar, Jan 3: The residents of Galipura layout in Chamarajanagar city boycotted the annual Community Based Survey (CBS), conducted by the Health and Family Welfare department, mistaking it to be the National Register of Citizens (NRC).

Majority of the residents in the layout belong to Muslim community. The people, who mistook CBS to the NRC survey, got into arguments with the Asha workers, who were given the responsibility of collecting information. They even tore the forms into pieces and vent their ire.

The Health Department conducts CBS every year in the urban areas and collects all details including Aadhaar number, residential address, details of family members, health problems and others.

Fifteen Asha workers were deputed for the survey in the layout. A few youths started questioning them alleging it to be an NRC survey and started arguing with them.
Tahsildar Mahesh, District Health and Family Welfare Officer Dr N C Ravi, with the help of Muslim leaders cleared the confusion. The community leaders assured of explaining it to the residents and extend cooperation to the survey.

Bengaluru, Jul 4: Karnataka Congress leader Dinesh Gundu Rao said on Saturday that he and his family would get tested for COVID-19 after one of his security persons tested positive for the infection.

Rao's family will also be in-home quarantine for the stipulated time.

"One of my police security person has tested positive for COVID yesterday. My family members and I are getting tested now and will be in-home quarantine for the stipulated time period. None of us are showing any symptoms," he said.

The total number of cases in Karnataka stands at 19,710. Out of them, 8,805 have recovered and 293 patients have lost their lives, according to the Union Health Ministry.

Across the country, the total number of cases stands at 6,48,315. As many as 3,94,227 patients have recovered so far and 18,655 have lost their lives due to the virus.