'I have failed as an entrepreneur… I gave up': V G Siddhartha’s alleged letter goes viral

coastaldigest.com web desk
July 30, 2019

Newsroom, Jul 30: In an alleged letter, which is being circulated over social media, Siddhartha, V G Siddhartha, the Founder & owner, Cafe Coffee Day (CCD), who is missing since last night, says he "failed to create the right profitable business model despite my best efforts."

However, the signatures mentioned in the letter differ from Siddhartha's signatures mentioned in the company's annual report.

VG Siddhartha's alleged letter to employees and board of directors of CCD, states, "Every financial transaction is my responsibility...the law should hold me & only me accountable." However, the signatures don't match with his signatures in the company's annual report.

Here is the alleged letter:

Also Read:

Siddhartha was eager to sell his Cafe Coffee Day stake to Coca-Cola?

Cops grill Siddhartha’s car driver at undisclosed location

Karnataka BJP MPs meet Amit Shah; seek help to trace ‘missing’ Siddhartha

‘Utterly fishy. Unbelievable. Siddhartha called me on July 28. He wanted to meet me’: D K Shivakmuar

Mangaluru: Coffee tycoon Siddhartha goes missing from Netravati Bridge; massive search underway

 

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Sridhar prabhu
 - 
Tuesday, 30 Jul 2019

i have no idea how much harassment u got it from the lenders. but still u had lot of option. RIP.

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News Network
April 18,2020

Bengaluru, Apr 18: Amid fears that people from the unorganised sector are running out of cash to meet their daily expenses, the Karnataka government said there was no data available for such labourers, who can be provided financial assistance under the direct benefit transfer (DBT) scheme.

"The government does not have data of people in the unorganised sector such as drivers, farmers, domestic help and others. If we have to deposit directly into their account, we need data..," State Labour minister A Shivaram Hebbar told reporters.

The minister said a situation borne out of the COVID-19, where the entire nation has been lockdown was never anticipated.

To him, the pandemic has given an opportunity to gather information about the unorganised sector.

"This COVID-19 has taught the department and the workers a lesson that we should be prepared for a situation like this. We have learnt that all the information about labourers should be available with the labour department," Hebbar conceded.

The minister opined that the department should have had the list during the good times but nobody bothered to have it.

"During the good times nobody bothered about it -- neither they (beneficiaries) asked for it, nor we thought of it.," Hebbar said.

Now that the pandemic has struck, the government is focusing only on not letting anyone starve to death.

A three-level preparation has been made -- at the village level, Taluk level and the city level, the minister said.

Village anganwadis have been stuffed with food items to be cooked for the needy, whereas in Taluk level, government hostels have been turned into shelters for the labourers, he said, noting that lakhs of philanthropists in cities have come forward to feed the people from unorganised sector.

"The basic objective of our government is that no one should starve to death. The issue of organised or unorganised sector comes next," he explained.

On the fear of large-scale retrenchment, the minister said notices have been served on all the industries that no one should be expelled from the job.

However, Hebbar underlined that the industrialists today are as much in distress as the workers and his department was taking into account everyone's concern.

A decision will be taken in this connection by the government in the next two days, to provide assistance to small enterprises to keep them afloat.

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News Network
July 8,2020

Bengaluru, Jul 8: In yet another revenue generation measure, the Revenue department has issued an order permitting the sale of government land leased to various religious, industrial and other organisations.

Officials say that around Rs 2,250 crore will be generated in Bengaluru Urban district alone, if the order is implemented.

While rules for the process are yet to be formed, it has directed deputy commissioners of various districts to submit proposals for the sale of such lands leased by the government to various institutions under the Karnataka Land Grant Rules, 1969. The order came after a recent Cabinet decision. 

The order issued on July 6 says that government lands leased to private organisations, trusts, industries, educational, social welfare, religious and agricultural purposes can be regularised by paying the guidance value of the land, provided the organisation continued to use the land for the same purpose it was granted for.

If an organisation or trust wanted to convert the land for other purposes, it will be charged twice the guidance value. According to the order, land leased to organisations that are unwilling to purchase the land will be surveyed. “DCs should initiate measures to survey such lands and recover the unused land to the government,” it said.

Revenue Principal Secretary N Manjunath Prasad told DH that rules for the sale of such lands will be formulated shortly. “We have directed deputy commissioners to compile the extent of land leased to various organisations in their respective districts,” he said, noting that 921 acres were leased to private parties in Bengaluru Urban district.

From the 921 acres, the state government used to receive an annual rent of Rs 6.50 crore per year. Sale of leased land in Bengaluru Urban alone will generate around Rs 2,250 crore at current guidance values, Prasad said. 

The government is also pushing for regularisation of unauthorised buildings on Bangalore Development Authority (BDA) land and auction of corner sites to mobilise resources due to the severe economic difficulties in the wake of the Covid-19 pandemic and the state’s reduced share in central taxes.

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News Network
March 11,2020

Kasaragod, Mar 11: An accused in a POCSO case here has been put in an isolation ward at the Government hospital on Wednesday as he was suspected having symptoms of Covid19.

The accused has been absconding ever since a case under POCSO Act was registered against him a year ago.

However acting on a tip off, the Kasaragod police arrested him at Mangalore Airport recently and was produced before the Court and was remanded to judicial custody.

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