Vested interests preventing tabling of report on Wakf property: MLC

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."

Shimoga, May 10: Karnataka Chief Minister B S Yediyurappa was all praise for a nine-month pregnant nurse, who is still attending to work at a Covid-dedicated hospital in the state, braving all odds in the wake of novel coronavirus pandemic.

Roopa, a resident of Gajanur, works at the Sri Jayachamarajendra Taluk Hospital in Tirthahalli.

The Chief Minister called the nurse up and admired her sense of duty after he came to know that she has been turning up at the hospital despite being in the advanced stage of pregnancy.

New Delhi, Jul 21: A 42-year-old contractual doctor, who was working with Delhi government's National Health Mission, passed away yesterday due to covid-19.

Dr Javed Ali had been on the frontline in the fight against the highly contagious illness since March. He tested positive for coronavirus on June 24 and was hospitalised for treatment over the next three weeks.

For the last 10 days, he was on a ventilator. Yesterday morning, Dr Ali breathed his last at the AIIMS trauma centre. He is survived by his wife and two children - a six-year-old son and a 12-year-old daughter.

"I am proud of my husband. He kept working till the end and he is a martyr. He did not take even one day off since March. He worked even on Eid," Dr Heena Kausar, his wife, told media persons.

The cost for the initial treatment at the private hospital was also borne by the family. "No treatment cost was covered when he was at a private hospital initially. We spent around Rs 6 lakh from our own pockets," she said.