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Mutual funds face Rs 193-crore exposure to VG Siddhartha-related companies

Siddhartha, the chairman of Coffee Day Enterprises, was found dead on Wednesday

V G Siddhartha
V G Siddhartha

Mutual funds have exposure worth more than Rs 193 crore to Coffee Day Natural Resources and Tanglin Developments, related to V G Siddhartha.

Siddhartha, the chairman of Coffee Day Enterprises, was found dead on Wednesday.

Data compiled by financial information provider Morningstar showed that mutual funds have exposure to the tune of Rs 148.71 crore to Coffee Day Natural Resources Pvt Ltd.

The exposure to Tanglin Developments Ltd is little over Rs 44 crore, as per the data shared with PTI.

Out of the total, DSP Credit Risk Fund has the highest exposure of Rs 132.08 crore to Coffee Day Natural Resources. BOI AXA S/T Income and BOI AXA Credit Risk Fund also have investments in the company, the data showed.

Indiabulls Income Fund, Indiabulls Savings Income Fund and Indiabulls Short Term Fund have exposure to Tanglin Developments, which is into real estate activities.

Meanwhile, Siddhartha -- the founder of cafe chain Cafe Coffee Day -- was director on six companies registered with the corporate affairs ministry.

The companies are Coffee Day Global Ltd, Coffee Day Enterprises Ltd, Coffee Day Kabini Resorts Ltd, Coffee Day Resorts (MSM) Pvt Ltd, Sivan Securities Pvt Ltd and Ittiam Systems Pvt Ltd, according to data available with the ministry.