Heena Sharma Blog

The body of Cafe Coffee Day founder V G Siddhartha , who had gone missing, was found on Wednesday in the Netravati river in Dakshina Kannada district of Karnataka after 36 hours of intense search, officials said. Two days prior to his disappearance, the coffee baron had left behind a note to his employees that revealed he was in deep debt. The mountain of debt was impairing his business as working capital requirements could not be met. It led him to sale his stakes in IT firm Mindtree that gave him some room to manoeuvre. "I have failed to create the right profitable business model despite my best efforts. 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...," his note read. Read More Article Source -> Business Standard

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. A massive search operation involving teams of the National Disaster Response Force, Coast Guard, Home Guard, fire services and coastal police had continued throughout Tuesday. Search teams had scoured the waters under a bridge across the Nethravathi river near Mangaluru where the 60-year-old businessman was reportedly last seen. The son of a coffee planta...