Tag: CCD Owner VG Siddhartha

Cafe Coffee Day founder V G Siddhartha’s body found from river: Report

The body of Cafe Coffee Day founder V G Siddhartha has been found from the Nethravathi river, according to TV reports on Wednesday.

Siddhartha’s body was found on the banks of the river near the Hoige Bazaar in Mangaluru, according to news agency ANI.

Siddhartha, the founder of India’s largest coffee chain, went missing on Monday night en route to the coastal Karnataka city of Mangaluru, with a letter purportedly written by him showing he was under “tremendous pressure” from lenders and one of the private equity partners (PEs). The letter also alleged “a lot of harassment” from tax authorities.

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V G Siddhartha disappearance: Friends, peers and family in a state of shock


The sudden disappearance of Café Coffee Day (CCD) founder V G Siddhartha has left everyone — business peers to employees to family — in a state of shock. It is now being speculated that he might have committed suicide because of financial stress.

The businessman, who lived in Bengaluru, went to Kotekar in Mangaluru, a distance of about 350 km on Monday evening. Around 7 pm, he stopped his car at a bridge over the Netravati river on the outskirts of the town, and asked his driver to come back after a while. When the driver returned, he could not find Siddhartha. He alerted Siddhartha’s family and the police, who launched the massive search operation. As the news broke in the early hours of Tuesday, high-profile dignitaries made rounds of the Sadashiva Nagar residence of S M Krishna, former Karnataka chief minister and a former Union minister. Krishna is Siddhartha’s father-in-law.

Politicians cutting across party lines, including Chief Minister B S Yediyurappa, Congress leader Siddaramaiah, D K Shivakumar and B L Shankar, and Janata Dal (Secular) leaders Deve Gowda and H D Kumarswamy came to offer moral support. Read Complete Article