Earlier, this week, ICRA had downgraded CDEL long-term rating 'D' with negative outlook from 'BB+' (Negative) based on Rs 315 crore term loans.
The board of the company, in its meeting held on Thursday, also decided to appoint Siddhartha’s wife Malavika Hegde to ensure that the company continues to have a strategic direction.
Chief Minister B S Yediyurappa, former ministers M B Patil, D K Shivakumar. MLA C T Ravi and others had the glimpse of Siddhartha, who died under mysterious circumstances.
Singhvi's comments come amid the death of shortly after CCD owner VG Siddhartha's body was found in a river in Karnataka.