CCD cheque bounce case: Malavika Hegde granted bail
The JMFC court has granted bail to Malavika Hegde, wife of late Café Coffee Day owner VG Siddhartha. Earlier, a non-bailable arrest warrant against Siddhartha’s wife Malavika and seven others in a cheque bounce case.
Mudigere: The Judicial Magistrate First Class (JMFC) court has granted bail to Malavika Hegde, wife of late Café Coffee Day owner VG Siddhartha.
The civil judge and the JMFC of Mudigere had summoned the directors including Malavika to appear before the court following a complaint by a coffee planter.
K Nandish, a coffee grower in Chikmagalur district of Karnataka, on November 4 had alleged that Cafe Coffee Day continues to evade paying him dues totalling to over Rs 45 lakhs nor had appeared before the courts.
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.
For the uninitiated, VG 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.