Business failure shouldn’t be seen as taboo: FM on CCD founder’s death

Days after the death of Café Coffee Day founder V G Siddhartha…Finance Minister Nirmala Sitharaman spoke on the issue of business failures in the Parliament during discussion on the Insolvency & Bankruptcy Code (Amendment) Bill, 2019. Sitharaman said that business failures should not be looked upon as taboo. She argued that businessmen should be given an honourable exit or a resolution to the problem should be found. Remember, the CCD founder had in an alleged letter to the CCD board cited harassment by Income Tax officials.

[@satya.thorati]

She is not good at FM post . Pls madam out of FM.dept. no use for us ...

[@johnfranklin5204]

Appreciate your concern on late Mr. Siddarth Hegde, he was a sincere and conscious person...didn't runaway unlike others... wil also appreciate if some reforms are made save businesses from losses... support and restart to success and clear debts.... tax idiots don't know how much pain to generate that sale and rob easily with gst... don't know where there tax money is used.... still poor people die working for the livelihood... inspite of gulping lakhs of crores....Mrs. Sitaram ji... i know your extraordinary dynamic personality... make a difference... many business men need support

[@georgekoshy6632]

Why stock market going down?

[@viveks9782]

I have enormous respect for what Mr.Siddhartha managed to achieve. However, I would be grateful if someone/economics student gives their comments on my observation : In this video Mr.Siddhartha talks about valuation, valuation and GDP. However, his 1700 stores racked up a debt of over 6000 crores. I think this is because of high overheads while running each store - security, barista, cashier, janitor etc., Now in the rush to scale up, I think Coffee Day did not evaluate most locations properly. Also, there was not really much value in their product because high quality coffee and tea are available in S.India for Rs. 30 per cup at locations close to Coffee Day. Of course their Cafe experience was premium - but it was being paid out of debt ! It was not going to be sustainable unless general living standards improved in pace.

[@sudeshchandraagarwal7409]

All want subsidy in budgets,gas,elec,toilets,water taps,roads,infra,from where all money come,pm has saved from unborn, bogus,benami,pensioners,mnrega,madrassa recipients,6cr people,2 lakh cr rupees,annually,+ taxes from tax payers,industries.

[@mb-ct8zk]

Why one should exit FM help them in their crisis.After 37 yrs of effort once should exit.After contribution towards Indian economy for 37 years pay very high tax..Eye of income tax DG was like am Omen as these income tax authority eyeing his tea estate..When he was in financial crisis you all did not incentivize..It is very easy to say to prooced through IBC.

[@rajeshkumarburra1938]

First off all Intially your Harsh Words might have attracted people But in reality you are not good as FM nor your good at heart Your taking things lightly We dont like to listen to your shit speech We lost Good Businessman We didnt lose Bad Politician

[@chandrasekhar6978]

It is too early to judge her performance. Surprising thing is people with out knowledge of Finance are raising issues and passing comments. Stock Market is dependent on so many factors -- International, National, Politiical and Finance etc... Right now, stock market in India is on down trend because of fall in interests in the USA. Like wise there would be so many factors and unless, we are in touch with Fnancial matters , we should not pass any comment against anybody like our politicians do. I can not understand why pepole commit irregularities in business , divert funds and evade taxes and raise hue and cry like Mallaya when caught. It is high time to regulate business systems and accountability in India and that is what is being done by the Government for the sake of Country's future .

[@viveks9782]

I have enormous respect for what Mr.Siddhartha managed to achieve. However, I would be grateful if someone/economics student gives their comments on my observation : In this video Mr.Siddhartha talks about valuation, valuation and GDP. However, his 1700 stores racked up a debt of over 6000 crores. I think this is because of high overheads while running each store - security, barista, cashier, janitor etc., Now in the rush to scale up, I think Coffee Day did not evaluate most locations properly. Also, there was not really much value in their product because high quality coffee and tea are available in S.India for Rs. 30 per cup at locations close to Coffee Day. Of course their Cafe experience was premium - but it was being paid out of debt ! It was not going to be sustainable unless general living standards improved in pace.