Chairman and Managing Director of Coffee Day Enterprises Limited V G Siddhartha
Chairman and Managing Director of Coffee Day Enterprises Limited V G Siddhartha
ANI Photo

New Delhi: Coffee tycoon V G Siddhartha's flagship Coffee Day Enterprises had seen its current liabilities double to over Rs 5,200 crore last fiscal, while his unlisted ventures for realty and hospitality may have similar levels of debt, according to regulatory filings with stock exchanges and the corporate affairs ministry.

The filings showed him taking loans of as low as Rs 12 crore. One document mentions a loan agreement for Coffee Day Hotels and Resorts, where Clix Capital had agreed "to provide a term loan facility for an aggregate principal amount of up to Rs 1 lakh".

While the exact quantum of the borrowings by the unlisted companies of Siddhartha could not be immediately ascertained, the total as indicated by the filings would be in addition to the amount CDEL owed to lenders.

Siddhartha's borrowings appear to have intensified after 2017 although there is no indication of how many of them remain unpaid after their due date or have turned non-performing assets.

According to data filed with the ministry, Coffee Day Consolidations had short-term borrowings and current liabilities of Rs 36.53 crore at the end of March 2018.

As such, over three quarters of the shares held by V G Siddhartha and promoter group entities in Coffee Day Enterprises Ltd have been pledged to institutions with the founder pledging additional shares as recently as June this year.

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