Bengaluru, Apr 1: Karnataka government along with BBMP has asked project contractors, builders and developers in the city not to send their labourers to their native place and instead provide them with amenities like food and shelter in this lockdown period.
It was also warned with legal action would be taken against them if they violating the instructions from the government .
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, Jun 11: Most COVID-19 deaths in Karnataka occur when infected elderly people, those with Severe Acute Respiratory Illness (SARI) or any other symptoms delay reaching designated hospitals, a top official said.
Munish Moudgil, chief of COVID-19 War Room in the state, said most of those infected with the virus are brought to COVID-19 designated hospitals at a very late stage and recovery then becomes extremely tough.
He said about 65 per cent of those killed suffered from SARI and are aged above 60.
The death rate due to SARI is 43 per cent for those in the 40-60 age group, he said, releasing data on coronavirus deaths, to reporters.
In the same age group, the mortality due to Influenza Like Illness (ILI) was 17.4 per cent, whereas it is 11.1 per cent among people aged above 60 .
He said 25 per cent of symptomatic patients aged above 60 die due to the virus, while it was 10.7 per cent in the 40-60 age group.
The fatalities among those aged 60 is high even if they are asymptomatic, Mr Moudgil, who is secretary in the Department of Personnel and Administrative Reforms, said.
He said the average number of days spent at these hospitals by those who recovered is about 15 days, compared to 3.5 days for those who died of the virus.
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"Hence persons who are elderly and who have comorbidities or who have SARI must reach designated Covid hospitals at the earliest," Mr Moudgil said.
As of date, Karnataka has reported 69 COVID-19 deaths As many as 6,041 people have tested positive for COVID-19, including 2,862 discharges and 3,108 active cases.
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