Coffee Day Enterprises has roped in retired CBI Deputy Inspector General (DIG) Ashok Kumar Malhotra to investigate circumstances leading to statements made in a purported letter written by late Founder VG Siddhartha.
Siddhartha was confirmed dead on 31 July after his body was found in the Netravati river in Dakshina Kannada district of Karnataka.
Ashok Kumar Malhotra will investigate the circumstances under which Coffee Day Enterprises late founder V G Siddhartha had written the purported letter dated 27 July. He will also scrutinise the group's financials. This task was earlier assigned to global audit firm EY, but was withdrawn owing to "certain conflict of interest".
"Malhotra will be assisted by Agastya Legal LLP, New Delhi, consisting of legal professionals lead by their senior partner M R Venkatesh, practicing advocate in High Court and Supreme Court of India who also possesses educational background of a chartered accountant," Coffee Day Enterprises said in a regulatory filing.
In the letter, Siddhartha had said there was a lot of harassment from the previous director general of the income tax department in the form of attaching shares on two separate occasions.