VG Siddhartha says failed as an entrepreneur, disappears two days later

"I have failed as an entrepreneur," V G Siddhartha, who has gone missing, has said in a letter purportedly written to the Board of Directors and employees of Coffee Day Enterprises, he founded.

"After 37 years, with strong commitment to hard work, having directly created 30,000 jobs in our companies and their subsidiaries, as well as 20,000 jobs in technology company where I have been a large shareholder since its founding, I have failed to create the right profitable business model despite my best efforts", he said.
"I would like to say I gave it my all. I am very sorry to let down all the people who have put their trust in me," he said in the letter, widely circulated in the social media.
There was no immediate confirmation on whether the letter was indeed written by Siddhartha.
Siddhartha said he 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".
"Tremendous pressure from other lenders lead to me succumbing to the situation", he said. Read More

Article Source -> Business Standard