It is not the ED but the board of Coffee Day that has order this probe. This probe is expected to reveal details of suspicious circular transactions between Mysore Amalgamated Coffee Estates and the owner of CDEL, VG Siddhartha. The investigation was ordered by the board of CDEL after Siddhartha committed suicide an year back.

The board observed that as much as Rs.3500 to Rs.4000 crore was missing from the books of the listed company, Coffee Day Enterprises, as an outcome of these dubious transactions. The investigation was conducted by former CBI DIG Ashok Malhotra. These funds were allegedly routed to help Siddhartha service his personal borrowings.