Coffee Day Global's outstanding to Karnataka Bank totals Rs 152 crore

ANI Bengaluru, Karnataka Jul 30, 2019, 05.22 PM(IST)

An outlet of Cafe Coffee Day. Photograph:( Zee News Network )

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Karnataka Bank said that Coffee Day Global, one of the unlisted companies of erstwhile Amalgamated Bean Coffee Ltd, has been its customer since 1996.

Coffee Day Global of missing businessman V G Siddhartha has credit facilities with Karnataka Bank with a present outstanding of Rs 152.48 crore, the bank said on Tuesday.

This constitutes 0.29 per cent of total advances, it said in a statement. "The above facilities are fully secured by collaterals of properties besides primary securities.

All the loan accounts are regular as on date," the bank said. A day earlier, Siddhartha went missing from Mangaluru in Karnataka.

However, the bank does not have any exposure to Coffee Day Enterprises, the parent company of Coffee Day Global which is listed on BSE Ltd and National Stock Exchange of India Ltd.

Karnataka Bank said that Coffee Day Global, one of the unlisted companies of erstwhile Amalgamated Bean Coffee Ltd, has been its customer since 1996.