CBI cleared all accusations against IT Dept who were earlier being held responsible for Sidhartha’s suicide
Reportedly almost a year after the death of Cafe coffee Day founder and owner VG Siddhartha, an investigation report by a retired cbi officer has revealed that a subsidiary firm of siddhartha owed Rs 3,535 crore.
The investigation also revealed a gap of Rs 2,693 crore in the balance sheet of coffee Day Enterprises Limited. The investigator, ashok kumar Malhotra, a former DIG level officer of Central Bureau of Investigation (CBI), also cleared all accusations against the Income Tax department and said siddhartha was never harassed by IT officials, who were earlier being held responsible for Sidhartha’s suicide.
The Board of Directors of coffee Day Enterprises Ltd (CDEL) on august 30, 2019 had appointed ashok kumar Malhotra, a retired officer of Central Bureau of Investigation (CBI) to probe into the circumstances leading to the statements made in the last letter of VG siddhartha on July 27, 2019, and to scrutinize the books of accounts of and its subsidiaries. The report also highlights about mysore Amalgamated coffee Estates Limited (MACEL), an entity on the personal business side of VG Siddhartha, having a business relationship with subsidiary companies of coffee Day Enterprises Limited.
VG Siddhartha’s body was found in Mangaluru’s NetravatiRiver in July last year and police said that he had died by suicide amid speculation that he was being harassed by IT officials. According to the investigation report, the personal assets and shares of siddhartha were mortgaged for business loans of the company and its subsidiaries.
The investigation report was submitted to the Board of CDEL by the investigators on July 24, 2020.