The inquiry gave a clean chit to the Income Tax Department that was being claimed to have harassed Siddhartha
The investigation report, which may be submitted to the company’s board soon, gives a clean chit to tax officials and PE investors, trashing allegations that they may have pushed Siddhartha to take his own life
The CDEL board initiated the investigation after Siddhartha's death in July 2019, and the probe report is still in the draft stages.
The family's reluctance to manage such large holdings is another reason they are looking at selling off the coffee plantation
Those outlets across different regions which have not been profitable are being shut down, a move aimed at containing the business' falling profitability.
The Coffee Day stock has been hitting the upper circuit for the past few days
The decision not to sell a stake in Coffee Day Global follows talks with potential suitors including ITC and Coca-Cola.To pare debt, the promoters are also exploring the possibility of inducting an investor in Coffee Day Enterprises
The company debt as on July 31, 2019 was Rs 4,970 crore. Going by the assets and its valuations listed in the purported letter written by VG Siddhartha before his death on July 27, the assets are worth Rs 18,000 crore.
The Coffee Day Enterprises board today appointed Ernst & Young (EY) to inspect its books and also look into the circumstances outlined by its deceased founder VG Siddhartha in his purported suicide note.
The company’s stock is at an all-time low, having crashed over 50 per cent from Rs 191 on July 29 to just over Rs 77 on August 8 on BSE
Debenture holders have the right to dilute 10.55 percent of the pledged shares
In the wake of the death of Cafe Coffee Day founder V G Siddhartha, Sitharaman made the statement while responding to the debate on the amendments to the Insolvency and Bankruptcy Code (IBC) in the Lok Sabha last Thursday.
Given the huge role CCD’s VG Siddhartha played in India’s coffee ecosystem, there’s uncertainty in the air
Siddhartha’s friends say he was more of a hands-on person and cared about every detail of his business, getting into nitty-gritty
According to TCFS, it had a maximum exposure of Rs 165 crore to Café Coffee Day (CCD) group in FY17-18, and that the entire amount had been repaid by March 2019.
The company was set to announce the results on August 8, 2019.
The total debt of Coffee Day Enterprise stands at Rs 6,547 crore, comprising loans from banks and securities sold to mutual funds.
Brand and job creation are all fine, but that’s no ticket to a compensatory legal reprieve.
Managing debt, keeping personal and business finances separate, and curbing reckless spending are critical
A letter believed to have been written by Siddhartha on July 27, 2019 states that he was under ‘tremendous pressure’ from private equity partners to buy back their shares
The debt was raised through three entities - Devadarshini Info Technologies, Gonibedu Coffee and Coffee Day Consolidations, according to corporate affairs ministry documents
Live updates: Cafe Coffee Day founder VG Siddhartha's body has been found near Mangaluru. He was missing since July 29
The biggest stories of the day by Rakesh Sharma.