• Founder VG Siddhartha took out Rs 2,700 crore from Coffee Day, probe finds

    Founder VG Siddhartha took out Rs 2,700 crore from Coffee Day, probe finds

    Published Date : 25-Jul-2020 10:27:18 IST

    An investigation by Coffee Day Enterprises, which owns India’s largest coffee chain, found that its late Founder VG Siddhartha diverted nearly ₹2,700 crore out of the company. He caused Coffee Day subsidiaries to pay advances to his privately-held Mysore Amalgamated Coffee Estates (MACEL), the probe report said. A further ₹842 crore in outstanding obligations from MACEL was previously disclosed.

Related Posts