Malavika Hegde, spouse of late CCD founder VG Siddhartha, appointed firm’s CEO

News Network
December 8, 2020

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Bengaluru, Dec 8: Malavika Hegde, spouse of late CCD founder VG Siddhartha, appointed firm’s CEO Coffee Day Enterprises Ltd (CDEL) on Monday mentioned Malavika Hegde, the spouse of its late founder VG Siddhartha, has been appointed as the corporate’s Chief Executive Officer. CDEL runs a sequence of Cafe Coffee Day eating places in India.

“Malavika Hegde, Director of the company, has been appointed as CEO of the company with effect from 7th December 2020,” CDEL mentioned in a regulatory submitting.

The firm’s board in a gathering held on Monday additionally permitted appointment of C H Vasudhara Devi, Giri Devanur and Mohan Raghavendra Kondi as impartial administrators.

The appointment is for 5 years, efficient from December 31, 2020.

“This intimation also fulfils the requirement of appointing Woman Independent Director pursuant to SEBI (LODR) (Amendment) Regulations, 2018,” it added.

VG Siddhartha was discovered useless final 12 months, investigation revealed Rs 3,535 crore angle

Siddhartha was discovered useless in August 2019 and since then the group has been going through strain to repay money owed. It is paring its debt via the sale of non-core belongings.

In July this 12 months, an investigation into the circumstances that led to the alleged suicide of Siddhartha revealed that Rs 3,535 crore was siphoned off from the corporate by the entrepreneur’s private agency Mysore Amalgamated Coffee Estates Ltd(MACEL).

In August, the Coffee Day Group mentioned it appointed Justice Okay L Manjunath, a former decide of the Karnataka High Court, to counsel and oversee actions for restoration of dues.

The firm had mentioned it was taking steps for restoration of dues from MACEL, whereas disclosing the findings of the investigation.

CDEL has 49 subsidiaries.

CDEL in September final 12 months had introduced the sale of its Global Village Tech Park in Bengaluru to world funding agency Blackstone and realty agency Salarpuria Sattva at an enterprising worth of Rs 2,700 crore. Earlier, it had offered CDEL’s stake in IT agency Mindtree to L&T Infotech.

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Agencies
April 24,2025

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Karnataka Chief Minister Siddaramaiah on Thursday visited the residence of 35-year-old Bharat Bhushan, in Mathikere, Bengaluru, who was shot dead in front of his family by terrorists in Pahalgam and paid his final respects.

Offering condolences on behalf of all Kannadigas to Bharat Bhushan, the Chief Minister said it is extremely unfortunate that a young, well-educated man like him became a victim of a terror strike.

He strongly condemned the attack as a barbaric and inhuman act.

To facilitate the safe return of Kannada-speaking individuals stranded in Kashmir and to bring back the mortal remains of the deceased, Labour Minister Santosh Lad and a team of officials were immediately dispatched. So far, 175 Kannadigas have been safely brought back to the state.

“It is the government’s duty to protect Kannadigas in difficult times,” the CM stated.

The Karnataka government has announced a compensation of Rs 10 lakh each to the families of the Kannadigas who lost their lives in the recent terror attack in Pahalgam, Kashmir, he added.

“It is the government’s responsibility to completely eradicate terrorism. Our government extends full support to the Centre in eliminating terrorist activities in the country,” CM Siddaramaiah said.

“Killing innocent people in broad daylight and in front of their families is a heinous crime. Similar to the past Pulwama and Balakot incidents, this is a recurrence. Intelligence failure at the Central level may have contributed to this incident as well,” he observed.

The Chief Minister has directed officials to make necessary arrangements for conducting the final rites of Manjunath Rao and Bharat Bhushan with police honours.

The victims from Karnataka include Bharat Bhushan, Manjunath Rao, and Madhusudan (who had settled in Bengaluru, hailing from Andhra Pradesh). Minister for Transport Ramalinga Reddy has met Bharat Bhushan’s family in Bengaluru, while Minister for Education Madhu Bangarappa met Manjunath Rao’s family in Shivamogga and assured them of support. 

Regarding the terror attack in Kashmir, the Chief Minister said the Central government has already initiated certain measures, and the state government will extend complete support for further steps aimed at eliminating terrorism.

Bharat Bhushan had gone on a Kashmir trip with his wife, Dr Sujata, a paediatrician, and toddler son.

The family stated that the gang of terrorists approached him and asked his name. When Bharat told them his name without any fear. The terrorists then asked him to hand over his son to his wife, Sujata. Later, they had asked him whether he was a Hindu or a Muslim. When Bharat said he was a Hindu, he was shot dead.

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News Network
April 14,2025

Haveri: The Contractors’ Association of Haveri district has raised a grave concern over the Karnataka government's failure to release pending payments amounting to ₹738 crore for public works executed over the past few years. In a desperate appeal, the association has warned that if the dues are not settled by the end of April, contractors may be forced to seek mercy killing (euthanasia) as a form of protest.

Addressing a press conference on Sunday, Mallikarjun Haveri, the taluk president of the Haveri District Contractors’ Association, alleged that corruption and commission demands in various government departments have exacerbated the financial distress of contractors.

“The commission racket is rampant,” he said. “Officials and middlemen have been demanding commissions ranging from 10% to 15% for clearing bills. Many contractors have borrowed money at exorbitant interest rates to complete government projects. Despite paying commissions, our dues remain unpaid. Middlemen are bleeding us dry.”

He further claimed that at least 10 contractors have died by suicide due to mounting debt and financial stress.

According to the association, in Haveri district alone:

₹200 crore is pending with the Public Works Department (PWD),

₹138 crore with the Rural Development and Panchayat Raj (RDPR) Department,

₹400 crore for projects announced during the previous BJP government.

The association reminded that contractors had protested in Belagavi during the winter session of the state legislature. At the time, the Public Works Minister had promised to clear the dues in phases by the end of March. However, the departments—including the RDPR, Karnataka Neeravari Nigam Limited (KNNL), and the Minor Irrigation Department—have yet to act on these assurances.

“We don’t want to take such extreme steps,” said the office-bearer. “But if the government continues to neglect us, we will be left with no option but to seek permission for euthanasia.”

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News Network
April 26,2025

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A powerful explosion at Shahid Rajaee port in southern Iran has caused widespread damage and casualties, with emergency teams rushing to the scene to bring the situation under control.

According to the Hormozgan Emergency Department, at least 561 people were injured after a fuel tanker exploded for unknown reasons at Shahid Rajaee port in Hormozgan Province on Saturday, Tasnim News Agency reported.

The wounded were transferred to Hormozgan hospitals.

The director general of Hormozgan’s crisis management department said the explosion was extremely strong, but the cause has not yet been determined.

Initial reports indicate that the blast originated in an administrative building within the port complex. The blast was so intense that it completely destroyed the administrative building and severely damaged many vehicles.

Following the incident, all port operations were suspended as security and emergency teams worked to secure the area. Authorities immediately declared a state of emergency at hospitals across Bandar Abbas in preparation for possible mass casualties.

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