Shivakumar has family connections with CCD through his eldest daughter, Aisshwarya, who is the wife of Amartya Hegde. Amartya Hegde is the son of the late VG Siddhartha, who founded CCD in 1996.
Sebi has fined Coffee Day Enterprises and nine individuals for alleged financial misstatements, stating the company understated losses by not accounting for over ₹489 crore in interest expenses