Over four years ago, Café Coffee Day’s founder VG Siddhartha’s body was found in the Netravati River in Karnataka. That was two days after he was last seen on the Ullal Bridge in Mangaluru. In a suicide letter, Siddhartha cited pressure from a private equity investor to buy back shares, and harassment from the income tax department. Death brings abatement to all charges against an individual. Lenders, however, face an extraordinary dilemma in
Business News›Prime›Corporate Governance›Why a lot can happen if a court-driven resolution is not pursued by lenders against Cafe Coffee Day
Under the lens
Why a lot can happen if a court-driven resolution is not pursued by lenders against Cafe Coffee Day
Synopsis
Coffee Day’s global lenders should pursue a court-driven resolution involving a change of management in order to send out a signal that erring promoters would not be given a second chance to run a company.
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