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Business News/ Companies / People/  CCD owner V.G. Siddhartha dead, body found in Netravati river

CCD owner V.G. Siddhartha dead, body found in Netravati river

Cafe Coffee Day owner V.G. Siddhartha's body has been found
  • Cafe Coffee Day was founded in 1996 by V.G. Siddhartha
  • Cafe Coffee Day VG Siddhartha went missing from Monday evening (Mint file)Premium
    Cafe Coffee Day VG Siddhartha went missing from Monday evening (Mint file)

    The 36-hour suspense following the mysterious disappearance of Cafe Coffee Day owner V.G.Siddhartha ended on Wednesday morning when fishermen found his body in the backwaters of the Nethravati river at Hoige Bazaar.

    V.G.Siddhartha’s body was found at around 6:30 am by a couple of fishermen who were preparing their country boat for the day’s fishing trip. The body has been sent to Wenlock government hospital for post-mortem.

    The post-mortem report is due in two hours, according to the hospital authorities.

    Siddhartha went missing on Monday evening, following which search operations near Mangaluru were initiated early on Tuesday morning.

    Siddhartha whose cafe network traces its roots to the IT hub of Bengaluru in 1996, didn’t return after telling his driver he was going for a walk on Monday. It was suspected he had thrown himself off a bridge on the Nethravati river.

    Family members of Siddhartha said they would perform his cremation at the family estate of Chetanahalli, in Mudigere taluk, soon after his body was released by the hospital after the post-mortem.

    Siddhartha’s friend K Halappa, who has been camping in Mangaluru since Tuesday, said the family had decided that the cremation would be at a place where his journey as ‘Coffee King’ had begun.

    Watch: CCD founder Siddhartha faced debt issues

    According to the police, Siddhartha’s body was in a surprisingly good condition, considering it had been under water for 36 hours. The police investigation will resume after the post-mortem report.

    In a letter purportedly written by Siddhartha to the directors of Coffee Day Enterprises, a company he founded, the entrepreneur apologised for letting down people and cited pressure from private equity investors and harassment by tax authorities.

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    Published: 31 Jul 2019, 07:46 AM IST
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