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V G Siddhartha suicide case: CCD PE investors, I-T officials get clean chit

His private firm MACEL had Rs 2,693 cr unaccounted dues towards Coffee Day Enterprises, finds probe

V G Siddhartha
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Siddhartha, in a letter purportedly written by him before his death, had said the management and his family were unaware of his personal financial dealings

Debasis Mohapatra Bengaluru
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 of the company.  

While the investigation