Such a big debt on VG Siddhartha - is this the reason for the death of the owner of Cafe Coffee Day?

Such a big debt on VG Siddhartha - is this the reason for the death of the owner of Cafe Coffee Day?

Siddharth's entities or firm had debt, in which GoniBidu's debt was Rs 450 crore, Coffee Day Global's 883 crores and Tanglin Retail's debt of Rs 798 crore.

The pressure on the South Indian café group has increased due to a debt of Rs 5,500 crore that has gone on the personal holdings of VG Siddhartha, founder of Coffee Cafe Day. According to the media report, this has been revealed in the analysis of some documents. Coffee King VG Siddharth took a loan mainly through Tanglin Retail Realty Developers, Devdarani Infotech Technologies and Coffee Day Global companies.

Siddharth's entities or firm had debt, in which GoniBidu's debt was Rs 450 crore, Coffee Day Global's 883 crores and Tanglin Retail's debt of Rs 798 crore.

Standard Chartered Bank has a debt of Rs 3,471 crore on Tanglin Retail Realty Development Pvt. Ltd. and Devdarshini Info Technologies. Tanglin is VG Siddhartha's real estate company, which has an IT park in Mysore Road. Tanglin had allocated 30,000 Secure Non-Convertible Debentures of Rs. 10 lakh for the face value of Rs. 10 lakhs issued in Indian Currency on March 25, 2019, to Standard Chartered Bank (Singapore).

According to sources, at the beginning of this year, Devdarshini had raised around Rs 300 crore funding from SSG Capital Asia to buy some Optional convertible debentures from Standard Chartered. In fact, according to the options given in Structured Instruments for funding, they could be converted into company shares. But when this happens, Siddhartha had to leave the control of Personal Holding Entities.

According to reports published in a Business Newspaper on Tuesday, the American private equity firm KKR and the company has an exposure of Rs 225 crore in Siddhartha's Personal Holding Entities. When contacted, Standard Chartered refused to disclose anything.

Such a big debt on VG Siddhartha - is this the reason for the death of the owner of Cafe Coffee Day?

40 percent break in two days, shares of Cafe Coffee Day, Investors' worth Rs 2,839 crore sank || Shocking news for Cafe Coffee Day || CCD shocking news

---

I hope you likable this nice post. Do not forget to share it together with your friends, the Sharing Button is below the post. Apart from this, if there's any downside within the intermediate, don't hesitate to request the Comment Box. we are going to be happy to help you.

I will continue to write more and more on this blog, so do not forget to make our blog BlogLearner as a bookmark (Ctrl + D) on your mobile or computer and subscribe to us to get all the posts in your email. Do not forget to share these posts, if you like it. You can facilitate us reach additional individuals by sharing it on social networking sites like Facebook or Twitter.