Cafe Coffee Day (CCD) Owner VG Siddhartha News: VG Siddhartha, the son-in-law of SM Krishna, was first reported missing on Monday evening by his car driver, who was the last to see him. The police had propelled a massive search operation Tuesday with groups of Coast Guard, Home Guard, NDRF, coastal police and fire services scouring the swollen Nethravathi river.
Three anglers from Hoige Bazaar, which isn’t a long way from the river mouth, found the body drifting in the waters 500 mts from shore at around 6 am on Wednesday and quickly brought it ashore.
Cafe Coffee Day, India’s largest coffee chain, recently, was fighting to repay its debt which beat nearly Rs 4,500 crore. Although the group had raised debt from NBFCs, mutual funds and banks among others, Siddhartha’s letter to the board made open Tuesday likewise indicates weight from a private equity partner to buy-back its holdings in Coffee Day Enterprises. It said the private value partner applied pressure on him and his organizations.
As indicated by the police, Siddhartha’s body was in a shockingly decent condition, thinking of it as had been underwater for 36 hours. The police investigation will continue after the post-mortem report.
Commissioner of Police (Mangaluru) Sandeep Patil, who hurried to the spot, guided the police workforce to send the body to government-run Wenlock Hospital for post-mortem. “The body was found in Hoige Bazaar at 6 am. We have additionally informed the issue to his family. The body has been sent to Wenlock Hospital for taking up formalities.
In a letter purportedly composed by Siddhartha to the chiefs of Coffee Day Enterprises, a company he established, the business person apologized for letting down individuals and cited pressure from harassment by tax authorities and private equity investors.