Tata Coffee in talks to acquire V G Siddhartha’s 12,000 hectares of coffee plantations

News Network
September 25, 2020

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Bengaluru, Sept 25: Tata Coffee has reportedly started negotiations to acquire 12,000 hectares of coffee plantations belonging to Cafe Coffee Day founder V G Siddhartha for Rs 1,200-1,500 crore.

Coffee Day's operations, including personal assets and coffee plantations, is currently being handled by Siddhartha's wife, Malavika Hedge, after he died by suicide last year in August amid allegations that he faced pressure from lenders, a private equity firm and harassed by tax officials.

This development comes on the heels of Tata Consumer Products (TCP) approving an exploration of acquisition of Cafe Coffee Day's vending machine business. CCD is looking for a valuation of about Rs 2,000 crore for the same, a Bloomberg report said.

Siddhartha is believed to have availed loans worth Rs 2,000 from banks like HSBC, Rabo Bank, Lakshmi Vilas Bank, RBL and IndusInd Bank. Some of the lenders have already initiated recovery proceedings against the plantation assests last November.

"Discussions between Tata Coffee and Hedge started in February but were put on hold because of Covid," a source told the publication. "Talks have resumed, though the deal may be in preliminary stages," he added.

A family representative, however, told that the information is speculative and is to be treated as baseless rumours. The representative further stated that none of the lenders have invoked recovery procedings on plantation assets.

Apart from the coffeee plantations, Siddhartha also owned silver oak and timber plantations priced at about Rs 2,000 crore. His personal assets included The Serai Resorts, a luxury hospitality resorts.

Tata group has completed the restructuring of the consumer business and TCP’s joint venture with Starbucks progressing well. Deliberations to acquire the plantations are largely with the view of scaling up Tata Coffee’s land base. TCP holds 57.48 per cent stake in Tata Coffee.

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coastaldigest.com news network
January 16,2025

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Mangaluru, Jan 16: In an unimaginable twist of fate, the vibrant life of 19-year-old K Ahmed Shaheem was abruptly cut short on the evening of January 15, as he collapsed and passed away while enjoying a game of badminton with friends at Falnir, Mangaluru.

Shaheem, the beloved son of Shareef, originally from Addoor and currently residing at Ivory Tower, Attavar, Mangaluru, was in the prime of his youth. 

A student pursuing his graduation at a local private college, Shaheem had a bright future ahead, filled with dreams and ambitions. His sudden death has left family, friends, and the entire community in shock and grief.

Witnesses recount the heart-wrenching moment when Shaheem, in the middle of an energetic game, suddenly fell to the ground. His friends, devastated by the sight, rushed him to the hospital in the hope of saving his life. But tragically, doctors confirmed that he had passed away by the time he arrived.

Shaheem was not only a student, but also a passionate individual deeply involved in various social organizations, where he touched many lives with his kindness and commitment. His sudden departure has left a void that can never be filled, and his memory will remain forever etched in the hearts of all who knew him.

As his family mourns the loss of their precious son, the community stands in solidarity, deeply moved by the untimely loss of a young life that had so much promise.

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News Network
January 18,2025

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Kadaba, Jan 18: In a heartrending incident, a 16-year-old student lost his life on Friday, January 18, after the motorbike he was riding skidded off the road and plunged into a culvert on the Dharmasthala–Mardhala–Subrahmanya state highway near Gargaspal, Peradka. 

The accident spot falls under the Noojibaltila gram panchayat in Kadaba taluk of Dakshina Kannada district. 

The victim, Ashish, a tenth-grade student from a private school in Peradka, was the beloved son of Vishwanath of Hosamane Kaana in Noojibaltila village. His untimely demise has left his parents and sibling in profound grief.

The accident occurred during Ashish’s routine commute to school. Despite the swift intervention of a local resident, Sridhar, who rushed him to a private hospital in Kadaba, medical efforts could not save him. A case has been registered at the Kadaba police station.

The culvert where the accident happened has long been criticized by locals for its flawed and unsafe design. Numerous accidents have reportedly occurred at this spot, prompting repeated appeals from residents for immediate rectification. Community members have once again called upon authorities to prioritize repairs to prevent further tragedies.

Responding to the incident, Kadaba tahsildar Prabhakar Khajure underscored the importance of curbing underage driving. He directed the police department to take stringent action against minors found operating vehicles and cautioned parents about the serious consequences of providing vehicles to underage children.

This incident serves as a grim reminder of the pressing need for both infrastructural improvements and stricter enforcement of traffic regulations to safeguard young lives.

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News Network
January 18,2025

Sullia, Jan 18: In a shocking incident, a man shot his wife dead during a fit of rage over a minor argument and later took his own life by consuming poison. The heartbreaking event unfolded late Friday night in Kodimajalu in Sullia taluk of Dakshina Kannada.

The accused, identified as Ramachandra Gowda alias Chandra (53), used his licensed firearm to commit the crime. His wife, Vinoda (43), tragically lost her life in the incident.

On the fateful night, Ramachandra reportedly started an argument with his family after dinner over a trivial matter. The heated exchange escalated, and in a fit of uncontrollable anger, he allegedly aimed his firearm at his elder son, Prashanth. Vinoda intervened to prevent the attack, attempting to wrest the gun from Ramachandra.

However, enraged by her intervention, Ramachandra turned the gun on Vinoda and shot her, leaving her dead on the spot. Overwhelmed by the gravity of his actions, he consumed acid, commonly used for rubber processing, to end his own life.

Based on Prashanth’s statement, a case has been registered at the Sullia police station. The tragic sequence of events has left the village in shock and mourning, raising concerns about the unchecked escalation of domestic disputes.

This devastating incident underscores the importance of addressing domestic tensions before they spiral into irreversible tragedies.

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