News/City Updates

Cafe Coffee Day (CCD) owner-founder, VG Siddhartha goes missing

India’s largest Coffee chain Café Coffee Day (CCD) owner-founder VG Siddhartha has gone missing since Monday, (29 July) night. He is also the son-in-law of former Karnataka Chief Minister and BJP leader, SM Krishna and owns India’s largest coffee estate. 

According to the reports, Siddhartha was supposed to travel from Bengaluru to Sakleshpur. However, he instead asked his driver to take him to Ullal Bridge, over the Netravati river, Mangaluru on Monday evening. On reaching the bridge, he got down from the car and told the driver that he will travel the remaining distance by walk. With Siddhartha not returning, the family reported the police, who launched a massive search operation. As many as 200 personnel, including 25 swimmers, firefighters, and dog squads have been deployed to locate the CCD owner.   

With constant rains playing the spoilsport in Karnataka, the water level in the Netravati River has risen to a significant level. Making matters worse, a few reports on social media fear suicide, causing the worries to escalate with each passing hour.

On 27 July 2019, a letter was reportedly written by Siddhartha to the CCD staff and the Board of Directors. While the authenticity of the letter is yet to be confirmed, it reads,

“I would like to say I gave it my all. I am very sorry to let down all the people that put their trust in me. I fought for a long time but today I gave up as I could not take any more pressure from one of the private equity partners forcing me to buy back shares, a transaction I had partially completed six months ago by borrowing a large sum of money from a friend.”

The letter further had the CCD owner mention harassment from the previous DG income tax “in the form of attaching our shares on two separate occasions to block our Mindtree deal and then taking position of our Coffee Day shares.” Former Karnataka Chief Minister Kumaraswamy too, who visited Siddartha’s house on Tuesday, blamed the I-T department for harassing the CCD owner.

Share
Leave a Comment

Recent Posts

Rushikonda buildings: Chandrababu Naidu hits out at Jagan

Chief Minister N Chandrababu Naidu has come down heavily on former Chief Minister Y S…

4 hours ago

Roads in State will be pothole-free by Sankranti: CM

Chief Minister N Chandrababu Naidu has said all roads in the Andhra Pradesh state should…

4 hours ago

5 reasons why you should watch Bhool Bhulaiyaa 3 now!

Kartik Aaryan's new horror-comedy, Bhool Bhulaiyaa 3, is the talk of the town, winning hearts…

5 hours ago

Bigg Boss Telugu 8: Nikhil’s Aggression Shocks The Audience!

Bigg Boss Telugu is a popular reality show with a huge viewership from all ages.…

8 hours ago

IT employee dies in road accident in Vizag

A youth died in a road accident near Panorama Hills in the limits of the…

8 hours ago

7 upcoming events in Visakhapatnam this November that are actually fun!

As we step into a new month, fresh possibilities and memories waiting to be made…

9 hours ago