According to sources familiar with the matter, Coffee Day Global, the company behind the Cafe Coffee Day chain in India, has been granted corporate insolvency by the Bengaluru bench of the bankruptcy court. The National Company Law Tribunal (NCLT) issued an oral order last week, accepting the petition filed by IndusInd Bank and admitting the unlisted company for corporate insolvency proceedings.
The tribunal has not yet uploaded a comprehensive order as of now.
Coffee Day Global, a subsidiary of the publicly listed Coffee Day Enterprises, was established by the late VG Siddhartha. His tragic demise by suicide in 2019 sent shockwaves through the business community, leaving many in disbelief.
As of March 31, 2022, based on the most recent annual report, the company possesses a noteworthy debt of INR 67.3 crore owed to IndusInd Bank. According to an individual familiar with the matter, the company’s admission to the tribunal occurred when attempts to reach a one-time settlement agreement between the company and IndusInd Bank failed. Despite attempts to seek clarification, Coffee Day Group remained unresponsive to comment requests.
According to information available on the NCLT website, it was observed that IndusInd Bank had engaged Skanda Legal as their legal representation, while Coffee Day Global had enlisted Tatva Legal as their counsels.
As per the FY22 annual report of Coffee Day Global, an unlisted entity, it possesses 495 Cafe Coffee Day outlets spread across 158 cities and operates 285 CCD Value Express kiosks. Furthermore, the company has successfully installed 38,810 coffee vending machines in various corporate workplaces and hotels, according to the same report.
As of March 2022, the company carries a total debt of INR 960 crore, comprising bank loans and inter-corporate deposits amounting to INR 119 crore owed to Tanglin Development, a group entity.
Kisankonnect, a fully integrated ‘farm-to-fork’ company, has taken a significant step towards bridging the gap between farmers and consumers by introducing ‘Aapka Apna Farmers Market’ on its innovative app. The driving force behind this transformative initiative was none other than Shilpa Shetty Kundra, a devoted practitioner of wellness, who sought to connect 5,000 farmers from Maharashtra directly with the discerning consumers of Mumbai and Pune.
Kisankonnect, a three-year-old start-up, has successfully developed an advanced, technology-enabled supply chain for fresh agricultural produce, catering to over 3 Lac urban consumers through its innovative App and Farm Stores. The company prides itself on adopting ‘Responsible Agriculture Practices,’ which encompass soil improvement techniques, the use of eco-friendly bio-fertilizers instead of harmful chemicals, and providing farmers with scientific agronomy inputs to optimize crop growth. Notably, Shilpa Shetty-Kundra has recently made an investment in this promising start-up.
Vivek Nirmal, Founder and CEO of Kisankonnect said, “Eliminating middle-man has helped us to reduce wastages and offer fair price to the farmers, as well as, the consumers. At Kisankonnect, we have passion to work with our soil, our farmers and produce safe fruits and vegetables for our loyal consumers. We have built traceability for the vegetables we source for our consumers using our proprietary tech’ Kisan-Trace’, which gives full information of the farm, farming practices and its growing location to our consumers on the App, even before buying the same. Farmers have seen better productivity through scientific interventions through our Agri-Clinics”.
Co-founder and Chief Business Officer Nidhi Nirmal of Kisankonnect added, “In today’s world, consumers have become highly conscious of what they consume. Knowing the farmer from which the food comes directly is matter of great confidence about quality of the produce. As a mother, it is important for me whether what I’m buying for my family are leafy vegetables grown on sewage water near railway tracks, or I’m getting it from a known source, who ensures the produce is harvested from healthy plants.”
“Shilpa Shetty Kundra also expressed concern about trusting the source and nutrition of vegetables in our daily diet. The partnership aims to connect responsible farmers practicing ethical farming with conscious consumers in Mumbai and Pune. These consumers care about what they consume and want the produce conveniently delivered directly from the farm to their homes. We see our customers love and trust Kisankonnect and prefer buying more from our farmers,” she added.
United Spirits, the largest liquor company in the country, has announced that the prices of its brands will witness a surge of 14-17% in Karnataka. This decision comes in response to the state government’s recent announcement to impose a 20% hike in additional excise duty (AED) on Indian-made liquor (IML) starting from August.
Despite having the highest tax rate on liquor in the country, Karnataka remains the largest alcohol-consuming state in India, accounting for 18% of the nation’s total sales with an impressive annual sales figure of 68.4 million cases.
“This was not a welcome tax increase. The tax rates in Karnataka are already much higher. A 20% tax increase, in effect means that MRP of our brands will likely go up in the range of 14 to 17%. So, they become even more expensive in the state than they were already,” Hina Nagarajan, managing director at USL, told investors. “It’s too early to call out the impact on demand but our experience suggests there is generally a negative impact when prices go up.”
During the past few quarters, there has been a challenging situation for mass-priced segments, mainly due to inflation, even with a notable consumer shift towards premium products. For USL (United Spirits Limited), the popular segment experienced a 12% decline in volume growth. However, despite this, the company managed to achieve an overall 6% volume expansion.
In India, the liquor industry faces the influence of several state governments, which either control liquor retailing or wholesale distribution, or sometimes both. Taxes play a significant role in contributing to the state and central government revenues. Approximately more than 50% of the retail price of liquor goes towards VAT (Value Added Tax) and excise duty. For instance, the excise revenue generated from liquor sales in Karnataka reached around INR 30,000 crore in the fiscal year 2022-23.
According to officials familiar with the matter, India’s food regulatory authority is gearing up to take strong action against adulterators. As the consumption of processed food rises in people’s diets, the regulator is planning to enhance regulations and increase awareness to tackle this issue effectively.
“Eating habits have changed over the years. Several new food items and additives have been introduced and there are newer technologies in the food industry, all of which call for updating our regulatory requirements,” a government official said, requesting anonymity.
Lately, the Food Safety and Standards Authority of India (FSSAI) has been carrying out unannounced inspections nationwide, aiming to tackle the issue of food adulteration.
“There was a food regulators summit held recently that was another step in this direction, meant to look for ways in which regulators can act to make the whole food safety ecosystem better,” the official said.
The FSSAI hosted a two-day Global Food Regulators Summit 2023 in the national capital, marking a significant milestone for India. This momentous event focused on addressing global food safety challenges and exploring regulatory frameworks. Suman Berry, the vice-chairman at NITI Aayog, the government’s think tank, emphasized the summit’s pivotal role in fostering international cooperation to ensure food safety on a global scale.
“Adulteration of food is a serious problem affecting the fabric of society, and the complexity of India’s food landscape poses significant challenges which needs to be addressed,” Berry said. “Collaborative work between the government, industries and other stakeholders are crucial to realize this endeavour. There is also a need for empowering consumers through awareness campaigns and promoting safe hygiene practices to reduce the risk of food- borne illness.”
The regulator has recently introduced a new initiative known as the Indian Food-o-Copoeia, modeled after the Indian pharmacopoeia. Similar to the pharmacopoeia, which encompasses details about all drugs and their formulations manufactured, imported, and distributed in the nation, the Food-o-Copoeia will contain comprehensive information regarding all food and related products produced, imported, and sold in India.
“It is a collection of all food safety and standards regulations for each food category as a monograph. The document is uploaded on the website for everyone to access. This will be of great use to the industry but common people would also be able to access it,” said G Kamala Vardhana Rao, chief executive officer at FSSAI. “Our teams have been working for the past six months to collate relevant data and put together this document.”
The document shall undergo regular updates, ensuring the provision of current information about food items.
In addition to the Food-o-Copoeia, the regulatory body has introduced both a common digital dashboard and food authority directories. The common digital dashboard serves as an integrated IT portal, offering a centralized registry of food-related regulations and standards pertaining to food products and services across the nation.
The overarching objective is to foster collaboration among regulators, with a focus on enhancing food safety systems and regulatory frameworks.
“Considering the evolving landscape of emerging food hazards, new technologies and changing consumer needs, the aim is to develop a cohesive approach on food safety policy frameworks,” said Rao.
The regulator also is focusing on other critical areas such as antimicrobial resistance; animal feed and nutrition on safety and its impact on the food chain; and innovation in food emergency response, recall and analysis.
“As different geographical regions are characterised by agro-climatic diversities, no one standard could be applicable to food safety protocols,” health minister Mansukh Mandaviya said at the inaugural session of the summit. “We need to explore how regional diversities can be factored into global best practices.”
Revant Himatsingka, known as Food Pharma in the social media sphere, gained prominence for shedding light on the elevated sugar content in Bournvita, leading to Cadbury serving him with a legal notice. Now, he has redirected his attention towards exploring the veracity of the claim that brown and multigrain bread truly offer a healthier alternative to conventional white bread.
“Bread in India is a big joke!” Himatsingka said. “There are two types of bread in India. One which is openly unhealthy (white bread), and the second type (brown, multigrain, wholewheat) which pretend to be healthy when they are not!”
In a tweet, Himatsingka pointed out that bread consumption has experienced a notable surge in recent decades, exacerbating the issues associated with its consumption.
“Till a few decades ago, bread wasn’t as common in India. But now it is commonly used by Indians for breakfast sandwiches, school tiffins, and snacks!” the Food Pharma tweeted. “If you have 2 slices of bread a day, you have more than 700 slices in a year. Make sure you pick the right one!”
Explaining white bread is made up of maida or refined flour which has very little nutritional value, he said, “The maida is created by polishing the wheat which removes its layers of fiber.”
Bread in India is a big joke! There are two types of bread in India. One which is openly unhealthy (white bread), and the second type (brown, multigrain, wholewheat) which pretend to be healthy when they are not!
— Revant Himatsingka “Food Pharmer” (@thefoodpharmer) July 22, 2023
“Brown bread in India is also not healthy,” Himatsingka said in his video showing how the brown colour of the bread is achieved through colour and not because it is made up of wheat flour. “They are brown because of a caramel colour 150A. This caramel colour is similar to the colour in Coca Cola and Bournvita.”
Referring to the third type, which is multigrain bread, the food influencer remarked that it also didn’t consist solely of wheat flour.
“According to FSSAI, ingredients are listed in order of weight. Most whole-wheat breads have maida as the first ingredient and use very less whole wheat.” He then pointed out that a particular variety of whole-wheat bread had only 20 percent whole wheat.
“They just add a little bit of whole wheat so they can call themselves whole wheat bread,” Revant Himatsingka said. “Multigrain bread also does not mean it’s healthy. It just means that it has more than one grain. Most multigrain breads in India are also mainly made up of maida,” he added pointing to a particular brand of bread that has more maida than wheat flour since the refined flour was mentioned first in its list of ingredients.
Advising people to opt for wheat flour rotis instead of bread, the Food Pharmer added that if people still want to continue eating processed bread, they should check the ingredients listed on the packet and avoid varieties that have maida, palm oil and preservatives such as those available from local bakers.
Jumbotail, the B2B e-commerce company, announced on Sunday that it is providing full support to identify the vendors responsible for shipping counterfeit Fortune brand oil products to its warehouse.
Edible oil major Adani Wilmar has lodged a police complaint against Nexus Venture and Kalakar Capital-backed Jumbotail for allegedly distributing counterfeit products in the name of its “Fortune” brand.
A Jumbotail spokesperson said that Adani Wilmar contacted the company about certain alleged counterfeited products.
“As soon as we received their communication we checked our systems and proactively shared the details of stock available in one of our locations. Based on our information they visited our location to inspect the stocks. We continue to offer all assistance to the Adani team to identify the original source of the vendors from whom the products were procure,” the spokesperson said.
Adani Wilmar on Saturday said that it lodged an FIR through their agency against Jumbotail Pvt Ltd reporting the distribution of counterfeit products on the latter’s platform.
Acting upon this complaint, the law enforcement authorities immediately conducted a raid at Jumbotail’s warehouse, wherein alarming quantities of counterfeit products bearing the ‘Fortune’ brand name, the flagship brand of Adani Wilmar were seized.
The seized products included 126 pet bottles of Fortune Kacchi Ghani Mustard Oil (1-litre pack), 37 fake Fortune Refined Soybean Oil (1-litre pouches), and 16 pet bottles of Mustard Oil (1-litre pack) without the lid, Adani Wilmar had said.
The Jumbotail spokesperson said that it has a zero-tolerance policy towards counterfeit products and it takes strict measures to ensure only original products are sold through its platform.
“We will continue to provide all necessary assistance to Adani Wilmar and the law enforcement authorities to trace the original source of the said alleged counterfeit products,” the spokesperson said.
Adani Wilmar Ltd, a prominent edible oil company, has taken action against a B2B platform for purportedly distributing counterfeit products under its renowned ‘Fortune’ brand. Following a regular market survey, Adani Wilmar representatives unveiled the deceptive practices and subsequently lodged a formal police complaint.
In a statement, the company said it has lodged an FIR through their agency, against the B2B platform for alleged distribution of counterfeit products on the platform.
The FIR has been lodged at Badalpur police station in Gautam Budhnagar District, Uttar Pradesh.
Adani Wilmar said the law enforcement authorities conducted a raid at the warehouse of B2B (business to business) platform “wherein alarming quantities of counterfeit products bearing the ‘Fortune’ brand name, the flagship brand of Adani Wilmar were seized.”
The seized products included 126 pet bottles of Fortune Kacchi Ghani Mustard Oil (1 litre pack) without the lid, 37 fake Fortune Refined Soybean Oil (1 litre pouches), and 16 pet bottles of Fortune Sarso Oil (1 litre packs).
“We are deeply concerned about counterfeit products circulating in the market and posing risks to consumers’ health,” an Adani Wilmar spokesperson said.
Taking this matter seriously, the spokesperson said the company is collaborating with authorities to swiftly identify sources of counterfeits, and take decisive actions against unscrupulous traders.
According to the statement, the company initiated an in-depth examination of the reported product, which revealed significant mismatches in Batch Code details, fake QR codes, and different packaging materials, confirming the presence of counterfeit products.
Conçu, the renowned patisserie and cafe chain, is all set to make its grand entrance into Bengaluru, inaugurating its 10th outlet in the bustling heart of Indiranagar. What makes this event even more special is that it aligns perfectly with the celebration of the brand’s 11th anniversary. Stepping beyond its familiar grounds of Hyderabad, Conçu brings with it a remarkable decade-long legacy to the vibrant city of Bengaluru.
Aptly named after the French word for “crafted”, Conçu’s products reflect perfection to the very core. The cafe’s menu boasts sumptuous European style desserts and globally-inspired food, accompanied by expertly brewed coffees.
Conçu Bengaluru aspires to embody the allure of charming street-facing cafes found in European cities. Its ambiance is thoughtfully crafted to radiate sophistication and warmth, boasting soft lighting and a distinct minimalistic Scandinavian aesthetic. This inviting space is adorned with corner nooks, offering window-side views of the bustling city, complemented by quaint tables and abundant natural light. The intention is to create a serene haven for guests, encouraging them to disconnect from the digital world and instead, foster genuine connections with one another.
Speaking about the launch, Swati Upadhyay, Co-Founder of Conçu, expressed, “From its inception as a quaint, cosy setup in Hyderabad to expanding into a new city, Conçu’s journey has been a labour of love, reflecting passion and perfection at its core. With over a decade of expertise in perfecting our menu, service, and ambiance, we remain steadfast in our pursuit to infuse each morsel with a grade of refinement that elevates Conçu beyond a brand to a truly unparalleled experience. We are incredibly proud and thrilled about our launch in Bengaluru, and we wholeheartedly welcome all guests to come and indulge in our exclusive menu.”
Sahil Taneja, Co-Founder and head pastry chef, Conçu said, “With 11 years in Hyderabad, stepping into Bengaluru feels like a long-awaited homecoming, as we bring our passion for exquisite European desserts to this vibrant city. Right from the taste of our creations to their visual appeal, we have taken great care in curating a menu that will set Conçu apart. Besides, our team is also truly excited to launch the new creations that have been included exclusively for our Bengaluru customers.”
The monsoon season in India brings with it a refreshing respite from the scorching summer heat, transforming the landscape into lush greenery and replenishing water bodies. As raindrops gently fall, there is a certain charm that embraces the country during this time. One of the best ways to enjoy the monsoon is by savoring delectable food and complementing it with the perfect beer. In this article, we will explore the best beer and food combinations to elevate your rainy day experience in India.
1. Lager with Pakoras:
Pakoras, or deep-fried fritters, are an all-time favorite during the monsoon season. Whether it’s the classic onion or potato pakoras, or more adventurous paneer or chicken ones, these crispy delights are the epitome of comfort food. Pairing pakoras with a chilled lager enhances the taste and provides a refreshing contrast to the warm, savory snacks. The light and crisp nature of the lager complements the richness of the pakoras, making it an ideal combination to enjoy during the rainy days.
2. Wheat Beer with Bhutta (Roasted Corn):
Bhutta, or roasted corn on the cob, is a ubiquitous monsoon street food in India. The smoky flavor of the corn pairs beautifully with the subtle and slightly fruity notes of a wheat beer. The beer’s refreshing taste and light body make it an excellent choice to cleanse the palate after savoring the charred goodness of the roasted corn. Together, they create a harmonious blend of flavors that perfectly encapsulate the essence of the monsoon season.
3. Pale Ale with Chaat:
Chaat, a delightful assortment of spicy, tangy, and sweet street snacks, is a beloved part of Indian culinary culture. From pani puri and dahi puri to bhel puri and aloo chaat, these lip-smacking dishes burst with flavor and texture. The hoppy and slightly bitter notes of a pale ale complement the myriad of tastes found in chaat. The beer’s bitterness cuts through the richness of the chaat, creating a delightful balance that enhances the overall gastronomic experience.
4. Amber Ale with Kebabs:
Kebabs, whether they are veg or non-veg, are a popular choice to enjoy during the rainy season. The succulent grilled meats or vegetables, marinated in aromatic spices, deserve a beer that can match their boldness. An amber ale with its malty and caramel undertones complements the smoky flavors of kebabs exceptionally well. This pairing offers a gratifying combination of flavors that will leave your taste buds craving for more.
5. Stout with Samosas:
Samosas, with their crisp exterior and savory fillings, are a quintessential Indian snack enjoyed throughout the year. During the monsoon, indulging in piping hot samosas with a robust and creamy stout can be a transformative experience. The deep, roasted flavors of the stout harmonize with the spiced potato or meat fillings, creating a mouthwatering union of tastes and textures.
6. IPA with Spicy Chai and Pakoras:
While India Pale Ale (IPA) might not be a traditional choice for pairing with Indian food, its bold and hoppy character can complement certain monsoon delights surprisingly well. Pairing a hop-forward IPA with spicy chai (Indian tea) and pakoras can be a daring yet rewarding experience. The hop bitterness of the IPA complements the spices in the chai and pakoras, resulting in an explosion of flavors that will invigorate your senses on a rainy day.
Final Thoughts:
The monsoon season in India is a magical time that warrants celebration, and what better way to celebrate than through a gastronomic journey of beer and food pairings! Each combination discussed above offers a unique experience, bringing out the best in both the beer and the food. So, as the rain showers kiss the ground, let your taste buds embark on a thrilling adventure with these perfect beer and food combinations. Remember to enjoy responsibly and make the most of the rainy days, creating cherished memories that will last a lifetime. Cheers to delightful monsoon feasts!
When it comes to cutting phase diets, the focus is on shedding excess body fat while preserving lean muscle mass. Achieving a leaner physique often requires a combination of proper nutrition and strategic food choices. Among the plethora of fruits available, watermelon stands out as a delicious and refreshing option that can be a game-changer during the cutting phase. In this article, we will explore the jaw-dropping benefits of watermelon and how it can aid your weight loss journey, supporting your quest for a leaner body.
1. Low-Calorie, High-Water Content:
One of the key reasons why watermelon is an ideal choice during the cutting phase is its low-calorie content and high water concentration. Weight loss primarily revolves around consuming fewer calories than your body expends, creating a calorie deficit. With approximately 90% water content, watermelon offers a satisfying volume while delivering minimal calories. This makes it an excellent option for those aiming to control their calorie intake without feeling deprived.
2. Natural Hydration:
Staying hydrated is crucial during the cutting phase, as it helps maintain overall health and supports your body’s natural fat-burning processes. While drinking water is essential, incorporating watermelon into your diet provides a tasty and hydrating alternative. The abundance of water in watermelon keeps you hydrated and aids in flushing out toxins, preventing water retention, and promoting smooth digestion.
3. Rich in Nutrients:
Despite being low in calories, watermelon is packed with essential nutrients that contribute to your overall well-being. It is an excellent source of vitamins A and C, which are powerful antioxidants that protect your cells from oxidative stress. Additionally, watermelon contains vitamin B6, potassium, and magnesium, all of which play vital roles in various bodily functions, including energy metabolism and muscle function.
4. Citrulline and Arginine Content:
Watermelon is a unique source of two important amino acids, citrulline, and arginine. Citrulline is converted into arginine in the body, promoting blood flow and cardiovascular health. Improved blood circulation is beneficial during the cutting phase as it enhances nutrient delivery to muscles and aids in the removal of waste products, thus supporting recovery and performance.
5. Satiety and Craving Control:
Hunger and cravings can be particularly challenging during the cutting phase, making it essential to choose foods that keep you feeling full and satisfied. Watermelon’s high water content, along with its dietary fiber, contributes to feelings of satiety, helping you manage hunger pangs and reduce the temptation to reach for unhealthy snacks. The natural sweetness of watermelon can also help curb sugar cravings, making it an excellent alternative to high-calorie, sugary treats.
6. Natural Diuretic Properties:
Watermelon acts as a natural diuretic due to its potassium content, aiding in the elimination of excess water and reducing bloating. During the cutting phase, where water retention can be an issue, consuming watermelon can help you achieve a more defined and leaner appearance.
7. Electrolyte Balance:
Sweating during intense workouts can lead to electrolyte imbalances, causing muscle cramps and fatigue. Watermelon’s potassium content helps restore electrolyte balance, promoting proper muscle function and preventing muscle cramps, which can hinder your progress during the cutting phase.
8. Reduces Muscle Soreness:
Intense workouts during the cutting phase can lead to muscle soreness and inflammation. Watermelon’s anti-inflammatory properties, primarily due to its antioxidants and citrulline content, can aid in reducing muscle soreness and promoting faster recovery, allowing you to stay consistent with your training routine.
Final Thoughts:
Watermelon’s jaw-dropping benefits make it a must-have fruit during the cutting phase. Its low-calorie, high-water content provides a satisfying volume without adding unnecessary calories, aiding in weight loss efforts. Additionally, the wealth of essential nutrients, antioxidants, and amino acids present in watermelon contribute to overall health and well-being, supporting your journey towards a leaner physique.
Furthermore, watermelon’s natural hydration properties, diuretic effects, and electrolyte-balancing capabilities make it an excellent choice for staying hydrated and combating water retention. By including watermelon in your cutting phase diet, you not only optimize your weight loss results but also enhance your workout performance and muscle recovery.
Remember, maintaining a balanced diet, incorporating regular exercise, and consulting with a healthcare professional or nutritionist are essential components of any cutting phase plan. With watermelon as your ally, get ready to experience a refreshing, delicious, and effective addition to your journey towards a leaner and healthier you. So, slice into this juicy fruit and enjoy the numerous benefits it has to offer on your path to a more sculpted physique!
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