Bengaluru, Aug 17 (IANS) The Coffee Day group on Saturday said its total outstanding debt was Rs 4,970 crore, including Rs 4,796 crore secured loans and Rs 174 crore in unsecured loans.
"The management has decided to clarify its debt position, the expected reduction and post conclusion of the ongoing divestment transactions," said the city-based company in a regulatory filing on the BSE.
Of the total debt, that of Coffee Day Enterprises Ltd is Rs 480 crore, Coffee Day Global Ltd is at Rs 1,097 crore, Way 2 Wealth Ltd at Rs 121 crore, Tanglin Developments Ltd at Rs 1,622 crore, Tanglin Retail Reality Developments Ltd Rs 15 crore, Coffee Day Hotels and Resorts Ltd Rs 137 crore, Sical Logistics Ltd Rs 1,488 crore and Magnasoft Consulting India Ltd Rs 10 crore.
"The clarification is in light of speculation in a section of the media on our debt position after the demise of our founder-chairman V.G. Siddhartha on July 31," Company Secretary Sadananda Poojary in the filing.
The company's board on August 14 decided to sell Global Village Tech Park of its subsidiary Tanglin Developments Ltd in Bengaluru to the US-based private equity firm Blackstone for Rs 2,600-3,000 crore over the next 30-45 days.
"The group's debt position will reduce to Rs 2,400 crore on receipt of the Global Village's sale proceeds from Blackstone and settlement of statutory payments," it said in the filing.
The company is expected to be in a position to service the reduced debt obligations.
"Sical has been working on divestment of certain assets, whose proceeds will reduce its debt," said Poojary.
The company has requested the lenders and creditors to give it time to honour the commitments and unlock the potential value of its assets.
The group has provided direct and indirect employment to about 50,000 people.
New York, Sep 19 (IANS) UN Secretary-General Antonio Guterres has announced a new initiative aimed at ensuring decent job creation and protecting livelihoods to boost climate action and urged countries to join the project.
The new 'Climate Action for Jobs' initiative, announced on Wednesday, will be presented at the Secretary-General's 2019 Climate Action Summit on September 23 at the UN Headquarters in New York.
The initiative has been developed jointly by the Climate Action Summit, together with the International Labour Organization (ILO) and other members of the summit's Social and Political Drivers Action Area, co-led by Spain and Peru.
It provides a roadmap for ensuring that people's jobs and well-being were at the centre of the transition to a carbon-neutral economy.
"Today -- along with the ILO and partners Spain and Peru -- we are launching the Climate Action for Jobs, an initiative to put job creation and protecting livelihoods at the centre of national climate action plans," Guterres said.
"Some 1.2 billion jobs or 40 per cent of world employment rely directly on a healthy and stable environment. Business cannot succeed on a planet that fails. Jobs cannot be sustained on a dying planet.
"We will need government, businesses and people everywhere to join these efforts so we can put climate action into a higher gear," he added.
The new initiative calls on countries to formulate national plans for a just transition, creating decent work as well as green jobs, and also sets out specific measures for inclusion in these plans, including assessing the employment, social, and economic impacts of climate action.
Also implementing skills development and upgrading measures and designing innovative social protection policies to protect workers and vulnerable groups.
According to the ILO, measures to green the production and use of energy will lead to net job gains of some 24 million jobs by 2030.
As emissions have increased to record levels and global temperatures continue to rise, the Climate Action Summit aims to galvanise actions that will reduce emissions and build climate resilience.
It will launch concrete initiatives that governments, businesses and people everywhere can join to boost climate action.
ILO Director-General, Guy Ryder, who will be attending the UN Climate Action Summit, said: "The actors in the world of work -- governments, employers and workers -- have a key role to play in developing new ways of working that safeguard the environment for present and future generations, eradicate poverty and promote social justice by fostering sustainable enterprises and creating decent work for all."