Coffee King laid to rest in family estate

coastaldigest.com web desk
July 31, 2019

Mudigere, Jul 31: Café Coffee Day founder V G Siddhartha, who apparently committed suicide by jumping into the Netravati river near Mangaluru following harassment by I-T department, was on Wednesday cremated at his family’s coffee estate in Chatanahalli village.

His eldest son Amartya Hegde lit the funeral pyre after the last rites were performed in an atmosphere marked by quiet grief, as his mother Malavika Hegde and her father and former Chief Minister S M Krishna struggled with their emotions.

Earlier in the day, thousands of people paid their last respects to Siddhartha at Coffee Day Global Ltd, a firm owned by him in Chikkamagaluru town. Siddhartha’s biggest entrepreneurial innovation, CCD, had its roots in the coffee-growing hilly districts of Chikkamagaluru and Hassan where his father owned large estates.

It was in the early hours of Wednesday that the body of Siddhartha was found by a group of local fishermen in the Netravati river near Mangaluru. He had gone missing from the bridge on the river since Monday evening and an intensive, all-day search by a 300-strong team on Tuesday had failed to find the body. Three fishermen found the body floating near the Hoigebazar area where the river joins the Arabian sea, at 6.30 a.m. They brought it ashore and informed the police. The police have also recovered the mobile phone of Siddhartha.

Meanwhile, the police are continuing investigations into the circumstances that led to his death, with a letter purportedly written by him, blaming the Income Tax Department for his “succumbing to the situation.”

While the IT department has expressed doubts about his veracity of the letter, the police say that it would be treated as dying declaration, after checking its authenticity. Kamal Pant, Additional Director-General of Police (Law and Order), Karnataka, confirmed to The Hindu, “We have recovered the letter from his family members. We will take necessary action further.”

The board of Coffee Day Enterprises Ltd. (CDEL), that met on Wednesday, is also considering getting an independent forensic study of the letter. They need not wait for the police investigation to take up independent inquiry, said a source.

The day saw many politicians in the opposition camp, including former chief minister Siddaramaiah, saying that “harassment” by central agencies had pushed the entrepreneur to the brink.

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coastaldigest.com news network
July 8,2020

Mangaluru, Jul 8: A seven-day-old baby from Kallapu near Permannur village, within Ullal town limits in Mangaluru taluk has tested positive for COVID-19.

The baby’s mother, while pregnant, was admitted to a private hospital in the town on June 30. 

Her samples, which were sent for testing before delivery, reported positive, doctor said.

On Wednesday, the baby’s tests too reported positive for COVID-19.

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News Network
April 17,2020

Udupi, Apr 17: The city police on Friday caught a boy who created chaos near Aadi Udupi by throwing fake currency notes on road and fled afterwards.

This boy had thrown fake currency notes on the streets of Vadiraja Nagara near Krishna Mutt.

Few localities had collected the notes and reported this to police.

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News Network
May 20,2020

Bengaluru, May 20: Ride-sharing company Ola Cabs said on Wednesday it will lay off 1,400 of its employees due to business uncertainty caused by the coronavirus pandemic while the revenue has come down by 95 per cent in the past two months.

"The COVID crisis continues to unfold all around us causing unprecedented economic and social destruction. It has also become evident that the coronavirus will not be eliminated any time soon," wrote co-founder and CEO Bhavish Aggarwal to all Ola employees.

"In these circumstances, today I write to all of you with the toughest decision I have ever taken -- the need to downsize our organisation and let go of 1,400 of our valued employees," he said.

Aggarwal said the fallout of virus has been very tough for the cab aggregating industry in particular. "The company's revenue has come down by 95 per cent over the past two months," he said.

Initially, he said, the company hoped it would be a short-lived crisis and that its impact would be temporary. "But unfortunately, it is not been a short crisis. And the prognosis ahead for our business is very unclear and uncertain. It is going to take a long time for people to go out and about like before."
With more companies preferring to have a large number of employees work from home, air travel limited to essential trips and vacations being put off for better times, the impact of this crisis is definitely going to be long-drawn, said Aggarwal.

"The world is not going to revert to the pre-COVID era anytime soon. Social distancing, anxiety and an abundance of caution will be the operating principles for everyone," he told employees.

Aggarwal said the crisis necessitates the need to conserve cash aggressively so that Ola is able to invest in opportunities in the future, adding the downsizing exercise has been a very tough and sad decision for the management team to make.

"While we restructure our organisation to the new realities of our business, we are also going to recommit ourselves to strengthening our operational excellence and leverage a lot more technology to improve efficiencies and reduce cost across all parts of our business," he said.

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