Non-bailable arrest warrant against late CCD owner Siddhartha’s wife
By Team Newsable | First Published Nov 5, 2020, 8:32 AM ISTThe Mudigere JMFC Court has issued a non-bailable arrest warrant against late CCD owner Siddhartha’s wife Malavika and seven others in a cheque bounce case.
Mudigere: The Mudigere Judicial Magistrate First Class (JMFC) Court has issued a non-bailable arrest warrant against late Café Coffee Day owner Siddhartha’s wife and Coffee Day Global Limited, Director Malavika Hegde and seven others in a cheque bounce case.
K Nandish, a coffee grower in Chikmagalur district of Karnataka, on Wednesday alleged that Cafe Coffee Day continues to evade paying him dues totalling to over Rs 45 lakhs nor had appeared before the courts.
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According to a case filed by Nandish, the cheques which were not honoured by the bank due to insufficient funds, amount to Rs 45,38, 554 lakhs.
Nandish has filed a cheque bounce case against Malavika Hegde, a non-executive director in Cafe Coffee Day.
Speaking to the media Nandish said “They (CCD) were supposed to appear before the court last month (6 October), but nothing has happened so far”.
Nandish said that he had been doing business with Amalgamated Bean Coffee Trading Co for over 15 years and Siddhartha had never defaulted on payments. But the situation rapidly changed since his death last July.
For the uninitiated, Siddhartha was one of the biggest names in the coffee industry and his company had provided jobs for over 1,00,000 people directly and indirectly. But rising debt and alleged harassment by income tax officials forced the 59-year old to take his own life in July last year, this sent the company he founded into a downward spiral.
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