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

coastaldigest.com web desk
July 30, 2019

Mangaluru, Jul 30: VG Siddhartha, the son-in-law of former Karnataka chief minister SM Krishna and founder of country's largest coffee chain Cafe Coffee Day, is reportedly missing since Monday night. 

There are reports doing the rounds that the billionaire who faced series of I-T raids last year jumped off the bridge into Netravati River near Tokkottu. Though a search operation is on, the police are not in a position to confirm if he jumped into the river. 

Sources said Siddhartha had arrived at 8pm from Bengaluru in his SUV and had asked the driver to go to the Netravati bridge near Tokkottu.

"Yesterday, he had left Bengaluru saying he was going to Sakleshpur. But on the way, he told the driver to go to Mangaluru. After reaching the Netravati bridge, he got down from the car. Siddhartha asked his driver to drive a little further and stop. He will come walking. However, he didn't return. The dog squad used to locate him too stopped at the middle of the bridge," Mangaluru city police commissioner Sandeep Patil said.

The police have summoned helicopters and coast guards to facilitate the search operations. Over 200 personnel, including 25 swimmers, have been pressed into service to locate him, the officer added. 

Siddhartha's companies employ around 30,000 people across India. Siddhartha, son of a coffee plantation owner, dabbled in stock trading before starting Café Coffee Day with one outlet in Bengaluru in 1996, which has now emerged as the largest chain of coffee shops in India. He recently sold his stakes in a software company Mindtree for about Rs 3,000 crore. He was recently in the news for being in talks with Coca-Cola to sell CCD.

Cafe Coffe Day clocked a revenue of Rs 1,777 crore and Rs 1,814 crore in financial years 2018 and 2019, respectively, and eyeing Rs 2,250 crore by March 2020. As of March 2019, CCD runs 1,752 cafes across India.

Shares of Coffee Day Enterprises shed 19.99% in the early trade on July 30 after Cafe Coffee Day founder VG Siddhartha was reported missing since the night of July 29. CCD stock opened at a loss of 19.99% or 38.50 points to Rs 154.05 on BSE, also the stock's all time and new 52 week low. There are only sellers in the stock and no buyers standing.

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

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

Comments

Mahesh Bhandary
 - 
Tuesday, 30 Jul 2019

He was a inspiration to many, but given a wrong message behind his suicide.

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News Network
January 24,2020

Mangaluru, Jan 24: Aditya Rao, who was arrested for planting Improvised explosive device (IED) at Mangaluru airport on January 20, was brought to the airport on Friday for recreation of the crime scene as part of the investigation process.

Yesterday, one more case was registered against Rao in connection with a hoax call to the terminal manager of the airport on January 20, police said.

"One more case has been registered against Aditya Rao at Bajpe Police station for a hoax call to the terminal manager of Mangaluru International Airport on January 20," said PS Harsha, Mangalore Commissioner of Police on Thursday.

Earlier, Harsha informed that Rao, who surrendered before the Bengaluru Police, is now in the custody of Mangaluru Police.

"Our investigation team arrested Aditya Rao in Bengaluru in connection with the planting of an explosive device at Mangaluru airport. We produced the accused before Bengaluru's first JMFC court and the court issued a transit warrant," Harsha said.

"We have brought him to Mangaluru from Bengaluru and now the accused is in our custody. Our investigation team will interrogate him. We will investigate all aspects. He will be produced before Mangaluru 6th JMFC Court," he added.

Rao hails from Udupi and has engineering and MBA degrees.

According to the police, the IED was recovered from a bag at the Mangaluru airport. It was later defused in an open field by the personnel of the bomb disposal squad.

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News Network
April 22,2020

Bengaluru, Apr 22: The Karnataka government has announced partial relaxation of COVID-19 lockdown norms in the state allowing certain construction activities, manufacturing of packaging materials, courier services, among others, from April 23.

The activities will be permitted only outside the COVID-19 containment zones identified by the government.

Service provided by self-employed people like electrician, IT repair, plumbers, motor mechanics, and carpenters in local areas have also been given exemption.

Tea, coffee and rubber plantation have been allowed to work with 50 per cent workforce, and a similar exemption have been given to processing, packaging, sale and marketing of these produce.

“To mitigate hardship to the public, select additional activities have been allowed,which will come into effect from 00.00 hours of April 23,” Chief Secretary TM Vijay Bhaskar said in an order on Wednesday.

However, these additional activities will be operationalised by District Administrations and BBMP (city corporation in the case of Bengaluru city) based on strict compliance to the guidelines on lockdown measures, it said.

Before operating these relaxations, district administrations and BBMP (city corporation) shall ensure that all the preparatory arrangements on social distancing in offices, work place establishments as also sectoral requirements are in place, it said, adding that relaxations will not apply in containment zones.

Facing a financial crunch, the state government has been eager to kick-start economic activities in the state that had come to halt due to the coronavirus lockdown.

While hospitality services, bars, malls, theatres, shopping complexes, religious and places of worship among others will continue to remain shut, relaxation of norms has been for activities that are linked to essential services such as health, infrastructure and agriculture.

As per the order, while, public transportation will continue to remain suspended till May 3,private vehicles with passes for emergency services and personnel commuting with passes to places of work and back will be allowed.

Activities permitted include construction of roads, irrigation projects, buildings and all kinds of industrial projects, including MSMEs, in rural areas and all kinds of projects in industrial estates, where workers are available on site and no one is required to be brought in from outside.

Also permitted to function are manufacturing units of essential goods – drugs, pharmaceuticals, medical devices, their raw materials and intermediates;

food processing industries in rural areas, coal production (mines and mineral production and activities incidental to mining) besides manufacturing units of packaging materials.

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coastaldigest.com news network
July 7,2020

The Central Board of Secondary Education (CBSE) has rationalised the syllabus for classes IX to XII for the academic year 2020-21 by up to 30 per cent to make up for academic loss caused due to COVID-19, Union HRD Minister Ramesh Pokhriyal 'Nishank' announced on Tuesday.

"Looking at the extraordinary situation prevailing in the country and the world, CBSE was advised to revise the curriculum and reduce course load for the students of classes IX to XII.

"To aid the decision, a few weeks back I also invited suggestions from all educationists on the reduction of syllabus for students and I am glad to share that we received more than 1.5K suggestions. Thank you, everyone, for the overwhelming response," Nishank tweeted.

"Considering the importance of learning achievement, it has been decided to rationalize syllabus up to 30 per cent by retaining the core concepts," he added.

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