The board has also constituted an executive committee comprising Non-Executive Independent Director Ranganath, COO Bagmane and CFO R Ram Mohan to exercise the powers previously vested with the Chief Executive Officer and the Administrative Committee that was constituted by the board in 2015.

VG Siddhartha death: ICRA further said that it will take a final call on the rating action once it will get more clarity on further developments in the group.

The owner and founder of popular coffee chain Cafe Coffee Day went missing on Monday evening, sparking off a huge search and rescue operation. His body was finally recovered early Wednesday morning after 36 hours of frantic search.

VG Siddhartha's body was recovered after 36 hours of search operation at around 6:50 am on Wednesday morning from the Nethravati River in Karnataka

VG Siddhartha death: Karnataka Congress said that companies that flourished under UPA are crumbling now.

VG Siddhartha's death: Mallya asserted that he had faced similar harassment at the hands of government agencies and banks.

Cafe Coffee Day share plunged 20% for second straight day after Coffee Day Enterprise MD and Chairman VG Siddhartha's body was recovered from Netravathi river on Wednesday morning. He was missing since Monday evening.

VG Siddhartha death: The last rites of VG Siddhartha will be carried out at his father's estate in Belur taluka, Karnataka