Probe Finds $270 Million Missing After Coffee King’s Suicide
March 17, 2020
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An investigation into Coffee Day Enterprises Ltd., initiated by its board after the death of founder V.G. Siddhartha, is likely to conclude that at least 20 billion rupees ($270 million) is missing from its accounts, according to people familiar with the matter.
Mumbai, Feb 6 () Coffee Day Enterprises Ltd (CDEL) on Thursday said a report is likely to be tabled shortly on the investigation into the circumstances that led to the alleged suicide of the company’s chairman VG Siddhartha.
BENGALURU: The shareholding of Coffee Day Enterprises’ (CDEL) promoter group has come down sharply from 54% in July last year to 17% as lenders have invoked pledged shares, a filing with the BSE late last week shows.
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