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Explained: Why SEBI has slapped a Rs 26 crore fine on Coffee Day Enterprises
FirstpostSEBI found diversion of funds amounting to Rs 3,535 crore from seven subsidiaries of Coffee Day Enterprises Ltd to Mysore Amalgamated Coffee Estates Ltd, an entity related to promoters of CDEL New Delhi: Capital markets regulator SEBI on Tuesday imposed a penalty of Rs 26 crore on Coffee Day Enterprises, which runs Cafe Coffee Day, for diversion of funds from subsidiaries to a company related to promoters. Also, SEBI has directed Coffee Day Enterprises Ltd to take all necessary steps for recovery of entire dues from Mysore Amalgamated Coffee Estates Ltd and its related entities along with due interest that are outstanding to the subsidiaries. SEBI found diversion of funds amounting to Rs 3,535 crore from seven subsidiaries of Coffee Day Enterprises Ltd to Mysore Amalgamated Coffee Estates Ltd, an entity related to promoters of CDEL, according to its 43-page order. The seven subsidiaries are — Coffee Day Global, Tanglin Retail Reality Developments, Tanglin Developments, Giri Vidhyuth Ltd, Coffee Day Hotels and Resorts, Coffee Day Trading and Coffee Day Econ.
History of this topic

Coffee Day Enterprises stock jumps 20% after NCLAT sets aside insolvency proceedings
The Hindu
NCLAT sets aside insolvency proceedings against Coffee Day Enterprises
Live Mint
Coffee Day says plea filed against firm for insolvency proceedings by IDBI Trusteeship before NCLT
Hindustan Times
Coffee Day bankruptcy process: Application filed under IBC Section 7
Live Mint
Cafe Coffee Day insolvency: NCLAT stays the case, hearing scheduled for Sept
Live Mint
Cafe Coffee Day parent’s bankruptcy: What’s brewing at Cafe Coffee Global?
Live Mint
Sebi Slaps Rs 26 Crore Fine on Coffee Day Enterprises; Here's Why
News 18
Sebi slaps ₹26 cr fine on Coffee Day Enterprises, asks to be paid in 45 days
Hindustan Times)
Coffee Day Appoints Malavika Hegde, Wife of Founder VG Siddhartha, as New CEO
News 18
Café Coffee Day case: $270 million missing after founder Siddhartha's suicide
India TV News)
Coffee Day investigation reveals about Rs 2,000 cr missing from firm's accounts after death of VG Siddhartha; report likely to be released soon
Firstpost)
Coffee Day Enterprises to table probe report on alleged suicide of founder VG Siddhartha soon
Firstpost
Trouble brews as key Coffee Day lender Yes Bank stalls Blackstone deal
Live Mint)
Coffee Day Enterprises delays Q2 results: Stakeholders fate hangs in balance with firm's corporate governance and legal breaches
Firstpost)
Blackstone Group all set to buy Cafe Coffee Day's Global Village Tech Park; firm's debt to come down by more than half post-deal
Firstpost)
Coffee Day Enterprises ropes in ex-CBI official to scrutinise books of accounts; harassment charges to be probed
FirstpostCCD founder’s suicide: Police to probe exact cause
Live MintCCD founder V.G. Siddhartha's death: Brewing mystery
The Hindu
How much is Coffee Day worth without its founder V.G. Siddhartha?
Live Mint
Coffee Day to sell tech park to Blackstone
Deccan Chronicle)
Coffee Day Enterprises to sell its Bengaluru tech park to Blackstone for up to Rs 3,000 cr to cut debt
Firstpost
Coffee Day to sell Global Village Tech Park to Blackstone for up to ₹3,000 crore
Live Mint)
CCD board meeting: Coffee Day Enterprise appoints EY to scrutnize book of accounts; investigate into VG Siddhartha purported letter
Firstpost
Coffee Day Enterprise appoints EY to scrutnize book of accounts
India TV News
No exposure to any CCD group firms: Tata Capital Financial Services
Live Mint
In 2017, CCD founder VG Siddhartha admitted to ₹658-cr ‘unaccounted’ assets: I-T
Hindustan Times
Latest reports reveal CCD's VG Siddhartha was under huge debt
Op India)
Coffee Day Enterprises shares tank another 10%; hit lowest trading permissible limit for third day
Firstpost
Death of Cafe Coffee Day founder reveals strain of India’s cash crunch
Hindustan Times)
Cafe Coffee Day Founder VG Siddhartha Had Personal Debt of Rs 1000 Crore: Report
News 18
VG Siddhartha made youngsters fall in love with coffee
Deccan Chronicle)
Corporate India remembers VG Siddhartha as a humble man; asks entrepreneurs not to be discouraged by failures
Firstpost
Thousands bid farewell to CCD's Siddhartha at his cremation in Chikkamagaluru
Live Mint
CCD boss Siddhartha to be cremated at his coffee estate in Karnataka
India TV News
Coffee Day names new interim chairman, to probe past transactions
Live Mint
After VG Siddhartha's death, SV Ranganath appointed interim chairman of Cafe Coffee Day
India TV News)
VG Siddhartha found dead: CCD founder reimagined idea of coffee in India, always sought to strike out on his own
Firstpost)
VG Siddhartha dead: CCD had mounting debt, but facts don’t suggest coffee chain was a failed affair beyond redemption
Firstpost)
VG Siddhartha dead: Politicians, business leaders condole CCD founder's death; netizens reminisce about their go-to cafe
Firstpost)
VG Siddhartha found dead in Mangaluru: No one was harassed, claims Income Tax dept; CCD founder had tax liability of Rs 447.47 crore
Firstpost
Icra puts Coffee Day rating on watch with negative implications
Live Mint
Coffee Day Enterprises shares hit 20% lower circuit on Siddhartha’s death news
Live Mint)
VG Siddhartha's suicide and perils of entrepreneurship: CCD founder among biz leaders who fell prey to high-pressure job
Firstpost
#RIPSiddhartha: Cafe Coffee Day (CCD) outlets shut for a day
Live Mint
After CCD founder VG Siddhartha's death, Coffee Day Enterprises shares further plummet 20%; hit lowest trading permissible limit
India TV News
RIP Siddhartha: CCD outlets across country to shut for a day
India TV News
CCD owner VG Siddhartha’s body found near Mangaluru river 2 days after he went missing
Hindustan Times)
VG Siddhartha: From Plantation Owner's Son to Coffee King of India, Tracing the Tycoon's Journey
News 18
Coffee Day, Sical stocks hit lower circuit
Deccan ChronicleDiscover Related




































