VG Siddhartha missing: Cafe Coffee Day founder blames 'failure' on 'tremendous pressure' from equity partner, harassment from ex-DG, Income Tax

-
VG Siddhartha, the founder of India's largest Coffee chain Caf Coffee Day, who also owns Asia's single-largest coffee estate, is missing since Monday evening. In a letter, reportedly written by Siddhartha, he blames "serious liquidity crunch", "harassment from the previous DG income tax" and "pressure from one of the private equity partners forcing me to buy back shares" for his situation.

from Firstpost India Latest News https://ift.tt/2OBDDTY
FP Staff

Comments

Post a Comment

Popular posts from this blog

Song on millets featuring PM Modi gets Grammy nomination

-
Image
A special song on millets featuring Prime Minister Narendra Modi has officially been nominated for this year’s coveted music award Grammy under the best global music performance category. The song called ‘Abundance of Millets’ is sung by Mumbai-based singer Falguni Shah, popularly known by her stage name Falu, and her husband Gaurav Shah. It highlights the health benefits of millet. The song features PM Modi’s speech on the benefits of millet. The year 2023 has been designated as the “International Year of Millets” after a proposal for it was brought forward by India and endorsed by the members of the United Nations’ Food and Agriculture Organisation (FAO) governing bodies as well as the 75th Session of the UN General Assembly. Ahead of the song’s release this year, Falu said, “Prime Minister Modi has written a song with me and my husband Gaurav Shah.” The “Abundance in Millets” track featuring Modi was released in June in celebration of the “International Year of Millets”. “Abun...
Read more

No reels, avoid being part of political campaigns: Delhi Police issues new social media guidelines for officers

-
The commissioner of Delhi Police has issued social media guidelines for police personnel asking them to “maintain the dignity of the uniform.” As per the guidelines, police officers in the national capital will be refrained from shooting reels or videos using their mobiles and they must practice extreme caution handling confidential information related to any pending trial or suspect or arrested person and ensure there are no leaks. Delhi Police Commissioner Sanjay Arora published the guidelines on Friday. The policemen should not post any statements, photos or videos related to departmental training, activities or duties on social media without written permission and also refrain from posting comments that can be derogatory towards victims, suspects or any group, it said. The guidelines, which were issued in Hindi, also stated that disclosure of the identity of a juvenile or a complainant of sexual assault through social media is illegal. The commissioner emphasised that as membe...
Read more

Padma Awards 2024: Foxconn CEO Young Liu honoured with Padma Bhushan, in strong message to China

-
India has awarded its third highest civilian honour, the Padma Chushan to Taiwan’s Liu Young-way, the Chief Executive Officer of Foxconn, in a move that will send a very strong message to the Communist Party of China. The 66-year-old Liu is set to receive the accolade in a ceremony later this year, with the presentation to be made by the President of India. The announcement of the 132 recipients across various Padma categories was made on the eve of India’s Republic Day. This recognition comes amid Prime Minister Narendra Modi’s efforts to attract foreign investments and position India as the next manufacturing hub in Asia. It aligns with the broader context of global initiatives to shift supply chains away from China, led by the United States and its allies. Liu Young-way had previously visited New Delhi and held discussions with Prime Minister Modi in March. Foxconn, in a statement, expressed its commitment to building an ecosystem in India, fostering collaboration and growth amon...
Read more