Cafe Coffee Day owner VG Siddhartha Missing.
Cafe Coffee Day owner VG Siddhartha Missing, the son in law of former Karnataka Chief Minister SM Krishna was reported from Mangaluru on Tuesday after leaving the city from Bengaluru.
Siddhartha 55 asked his driver to leave him close to a bridge from he said he will go for a walk, and asked him to wait till his arrival. Since the driver did not find his return after two hours, the driver approached the police and lodged a missing complaint “deputy commissioner of Dakshina Kannada district Senthil Sasikanth Senthil stated.”
In a purported letter, shared by the news media and other Board of Directors of the film and Coffee Day Family dated on July 27, Siddhartha told ‘ he failed to create the right profitable business model and said “very sorry to let down all the people that put their trust in me”. Meanwhile, the shares of the coffee chain hastened 20 per cent in the early Tuesday trending.
“I struggled for a long time but today I gave up as I could not take any more stress from one of the private equity partners forcing me to buy back shares, a transaction I partially created 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,” Siddhartha wrote.