The Coffee Day Enterprises saga has taken a new turn with the investigating team on Friday giving a clean chit to private equity investors and income tax authorities in connection with the demise of the company’s founder chairman, V G Siddhartha, last year.
The probe team appointed by Coffee Day (CDEL) and headed by retired DIG of the CBI Ashok Kumar Malhotra found that a private firm of Siddhartha — Mysore Amalgamated Coffee Estates Limited (MACEL) — had outstanding dues worth Rs 2,693 crore towards CDEL. This amount was not accounted for in the financial statements ...
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