Coffee Day Group, which runs businesses from coffee cafes to wealth management to furniture to logistics, is understood to be readying the stage for a possible $100-million fund raise through the private equity route.
Experts, political parties raise red flag over timber exports from there; Siddhartha denies any rule breach
Plans for SEZ, logistics and coffee chain, among other segments
The Securities and Exchange Board of India (Sebi) on Tuesday imposed a penalty of Rs 26 crore on Coffee Day Enterprises (CDEL) for alleged violation of securities laws. The regulator also directed the company to initiate steps to recover dues of Rs 3,535 crore-the amount diverted from seven subsidiaries of CDEL to Mysore Amalgamated Coffee Estates (MACEL). Affirming the violations of the Sebi (Prevention of Fraudulent and Unfair Trade Practices) Regulations and Sebi (Listing Obligations and Disclosure Requirements) Regulations, whole-time member Ashwani Bhatia said the listed company was being run like a personal fiefdom with no checks and balances in place.
Coffee Day Enterprises has already raised over Rs 334 crore from anchor investors.
V G Siddhartha's wife has the support of the employees. But the challenges ahead of her are tough.
It has been also revealed that V G Siddhartha had written a letter to the Board of Directors and employees of Coffee Day Enterprises, saying he had 'failed as an entrepreneur'.
Coffee Day Enterprises Ltd has reported a total default of Rs 465.66 crore on payments of interest and repayment of principal amount on loans from banks, financial institutions and Unlisted Debt Securities as NCDs and NCRPS, for the quarter ended September 30, 2022. Coffee Day Enterprises Ltd (CDEL) which is paring its debts through asset resolution, has a total debt of Rs 490.66 crore, including short-term and long-term debt. "The delay in debt servicing is due to liquidity crisis," said Coffee Day Enterprises Ltd (CDEL) in a regulatory update.
The resort, Barefoot, in which Gopinath owns close to 35 per cent, is spread over seven acres 'in exotic locale' and has 18 villas.
The assignment was earlier given to global audit firm EY. But it has now been reassigned owing to 'certain conflict of interest', the Bengaluru-based company said.
Attributing the delay in debt servicing to a liquidity crisis, the company said its total indebtedness was Rs 518 crore.
From a reluctant engineering student to one of India's most loved viral choreographers, Noel Alexander's rise has been nothing short of cinematic.
Dr Arush Sabharwal, bariatric and metabolic surgeon at SCOD (Surgical Centre for Obesity and Diabetes) Clinic, explains how choosing certain foods can help boost your metabolism.
Red Square and VDNKh easily rank among the most striking places I've visited -- both for their historical significance and architectural splendour.
My admiration for Russian culture, vision and ambition grew with every step as I clocked the miles, Nitin Sathe tells us after a visit to Moscow and St Petersburg.
At the stroke of midnight, live dashboards lit up simultaneously across Amazon India's World Trade Centre headquarters and Flipkart's Outer Ring Road office in Bengaluru. In sprawling "war rooms" at both the companies, executives monitored real-time data streams tracking payment speeds, inventory levels, and delivery logistics as millions of shoppers flooded online platforms.
Vietnam was wonderful and the people warm and hospitable, Radhika Mittal discovered over a 11-day stay.
Jane Street could do what they did because of the most fundamental flaw in the Indian stock market: a fragmented, fractured, fissured, fistula-ed liquidity stream, points out Shankar Sharma.
Thousands of athletes and staff roamed the Olympic village freely, mingling at cafes and swapping souvenir pins.
'You need the drishti, the experience. I am beginning to see things differently.'
Productivity isn't always about doing more. It's about doing what matters, with enough room to breathe, says Adarsh Rai, an emotional intelligence coach and founder-CEO of HR Brain HUB.
The survey states that while around 71.6 per cent of women believe that social media offers adequate information about menstruation, only 11.5 per cent rely on it as their primary source during menstrual emergencies.
A year after the RG Kar rape-murder Swarupa Dutt/Rediff look at the city where it happened, Kolkata -- its study in dichotomy, at once the self-proclaimed cultural capital of India as also a petri dish for a peculiar rage that breeds crimes against women.
The story of the Bombay Stock Exchange and the people who shaped its growth: From wars and bomb blasts to speculators, reformers and wealth creators.
The National Financial Reporting Authority (NFRA) will invite public comments on the revised International Standard on Auditing 600 (ISA 600) proposed to be adopted by publicly listed companies and non-public-sector banks, sources close to the development told Business Standard. The decision to take this "graded approach" for the adoption of the ISA, which is meant to rein in auditors often found hiding behind the audit reports signed off by subsidiary companies, was taken at a meeting of various financial sector regulators at NFRA's board meeting on Monday (August 26). The idea behind upgrading the Standards of Audit 600 currently followed by Indian auditors to ISA 600 is to plug current gaps, which have led to major audit lapses in the recent past.
Delhi is experiencing its first heatwave of the season, with temperatures reaching 40.2 degrees Celsius. Doctors have warned that exposure to extreme heat can lead to a range of health issues, from mild rashes and muscle cramps to serious conditions like heat exhaustion and heatstroke. They advise staying hydrated, avoiding outdoor activities during peak hours, and wearing light, breathable clothes. Vulnerable groups like children, the elderly, and those with pre-existing conditions are at greater risk.
Whether it's navigating the labyrinthine Cu Chi Tunnels, boating on the Mekong, marveling at ancient Champa temples, or the Mekong Bay, Vietnam promises a journey like no other.
Fort Kochi's charm lies in its oldness. Put on that cap, lace up your sneakers and those 10,000 steps are easy-peasy!
Several cafes and restaurants are boarded up from outside but still promising they are open. As Americans voted Tuesday, the capital prepared itself for potential unrest.
The probe gave a clean chit to the tax department that was being alleged to have harassed Siddhartha.
Customised restaurant recreations, cafe setups, pop-ups by Michelin-star chefs, bespoke table linens with monograms and couple-themed hashtags.
'Doctors feel they have a duty to prolong a heartbeat at all costs.' 'And a son or a daughter feels, I can't let my mum die. I have to save her at all costs.' 'They think saving is just prolonging life. But the person suffers.'
Travelling from South India to Kashmir in December was magical for Ganesh Nadar as he feasted his eyes on the beauty of the snow-capped Himalayas.
Sical Logistics' board of directors, which met to consider approval of the June quarter financial results, asked the management to come out with recommendations for the same.
Siddhartha's knack for value investment dates back to 1995 when he infused capital in Kshema Technologies, which was acquired by MphasiS. He also took an early exposure in Mindtree way back in 1999. Since 1995, he had invested in more than 15 technology companies including chip-designing firm Ittiam Software, and GlobalEdge Technologies, among others, says Debasis Mohapatra.
When in Landour, discovers Supriya Newar, one of the most important things to do and that too in large measures, is to do nothing at all.
Did you know that coffee drinkers are classified based on their caffeine sensitivity?
There were certainly qualities adhering to the Tata Group, which emanated from the persona of Ratan Tata. Most notable of these would be the low profile he maintained, which sharply contrasted the in-your-face celebrity status, celebration of wealth and pursuit of importance many of liberalised India's rich, love, notes Shyam G Menon.
His cinema of compassion inspired me, gave me tools to develop empathy for others. But it also made me understand that serious, socially committed cinema with deeply engaging narratives and great performances is an art form to admire, appreciate and explore. Aseem Chhabra remembers Shyam Benegal, who passed into the ages on Monday evening.
A photograph of Darshan hanging out with three others, including a rowdy-sheeter, on the lawns of the jail had gone viral on Sunday, sparking a row.
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