Taking congnisance of the purported letter written by Siddhartha, the Board said that it will investigate the claims including the “financial transactions outside the knowledge of the senior management, auditors and the Board”.The Board of Coffee day Enterprises met in the aftermath of the demise of its promoter VG Siddhartha and took important decisions.The Board has also appointed the law firm Cyril Amarchand Mangaldas as its legal counsel to advise it on the foregoing and related mattersOther important decisions taken are: *Appointment of Mr. S. V. Ranganath as the interim chairman of the Board.*Appointment of Mr. Nitin Bagmane as an interim chief operating officer of the Company on terms to be detailed and approved by the Board. *Constitution of an executive committee comprising Mr. S. V. Ranganath (Non-Executive lndependent Director), Mr. Nitin Bagmane (COO) and Mr. R. Ram Mohan (CFO) to exercise the powers previously vested with the Chief Executive Officer of the Company and the Administrative Committee constituted by the Board in 2015. The Board will, in due course, prepare a detailed charter of authorities vested in the Executive Committee and approve the same. The Executive Committee will, inter alia, explore opportunities to deleverage the Coffee Day Group.VG Siddhartha’s body was found today morning after he went missing on Monday night. He had left behind a note in which he had alleged that things had become difficult for him and that he had failed as an entrepreneur.