Rains lash Dakshina Kannada, other parts of Karnataka

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."

New Delhi, Feb 13: Ashoka Buildcon on Thursday said it has emerged as the lower bidder for a highway project worth Rs 1,035.5 crore in Karnataka.

The project entails four laning of a section of NH-206 in the state.

Ashoka Buildcon had submitted its bid to National Highways Authority of India for the project to be built on hybrid annuity mode under Bharatmala Pariyojana, it said in a BSE filing.

"The company emerged as the lowest bidder at the financial bid opening meeting held on February 13," Ashoka Buildcon said.

The quoted bid project cost for the project is Rs 1,035.50 crore, it added.

The company's stock was trading at Rs 103.05, down 2.78 per cent, on the BSE.

Bengaluru, Jun 12: Karnataka Medical Education Minister K Sudhakar on Friday said experts have indicated a surge in coronavirus cases in the state after August 15 and the government was taking all precautionary measures in that direction. Speaking to reporters in Ballari, Sudhakar said, "About 97 percent of over 3,000 active cases in the state are asymptomatic.

Experts after studying the developments in other countries and states have said that there will be a surge in infections after August 15."

He said the government was taking all precautionary measures in that direction.

 As of June 11 evening, cumulatively 6,245 COVID-19 positive cases have been confirmed in the state, which includes 72 deaths and 2,976 discharges, the health department's bulletin said.

It said, out of 3,195 active cases, 3,185 patients are in isolation at designated hospitals and are stable, while 10 are in ICU.

Meanwhile, in a tweet pointing out that nearly 60 per cent of the COVID cases in the country are from 10 cities, Sudhakar said, despite being the fourth most populous city in the country Bengaluru has been successful in containing its spread.

"Nearly 60% of total COVID-19 cases in India are found in 10 cities. Despite being 4th most populous, Bengaluru has been successful in containing spread of virus.

I urge people to keep up the fight, continue vigil & together with #CoronaWarriors we can defeat the virus," Sudhakar tweeted.

Bengaluru that does not figure in the list of 10 cities shared by the Minister has reported 581 coronavirus cases till last evening, out of which 258 are active.