 "V G Siddhartha")
The privately held firms of deceased Coffee Day Enterprises (CDEL) founder V G Siddhartha show evidence of a worsening debt profile. The amount of debt on the books of the unlisted companies rose in recent times, in line with rising borrowings at the listed CDEL, show the latest financial statements.
Credit rating agencies have either downgraded or placed under watch the borrowings of CDEL, some of its group companies, and Siddhartha’s wife Malavika Hegde.
The financials of six privately held companies associated with Siddhartha show an increase in debt and falling ability to meet short-term obligations. The total borrowings rose 76.4 per
