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
May 24,2020

Bengaluru, May 24: A couple got married in Bengaluru today, even as Karnataka government has announced a complete lockdown on Sundays, as part of the fourth phase of COVID-19 shutdown till the end of this month.

The marriage ceremony on this Sunday was possible thanks to a clarification given by the state government for marriages, which has been already scheduled for May 24 and May 31 to be exempted from the Sunday complete lockdown.

At today's wedding, the rituals were performed with compliance of all guidelines including ensuring social distancing and capping the number of guests at 50.

Satish, the groom said, "Government has allowed weddings with up to 50 people in attendance but we decided to invite only 25 people to the ceremony".

Meanwhile, in the Honnali Honnali area of Davanagere, BJP MLA MP Renukacharya distributed masks to three newly-wed couples.

As per an earlier advisory issued by the State government more than 50 guests, no air conditioning, and the consumption of liquor and paan are among the guidelines to be followed for holding weddings in the state. Also, people aged above 65 and below 10 as well as pregnant women have been barred from participating in the event.

According to the advisory, sanitisers should be provided at the entry and other appropriate places at the venue. Also, thermal screening of all persons shall be conducted at the entry of the venue. The scanner should be held 3-15 cms away from a person's forehead.

Apart from this, the venue shall be "clean and hygienic," and a "nodal person shall be identified for overseeing the arrangements and coordination at the venue." Also, a list of attendees with contact details has to be maintained and all guests should have downloaded Aarogya Setu app.

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News Network
July 7,2020

New Delhi, Jul 7: Congress leader Dinesh Gundu Rao's wife Tabu Gundu Rao informed that four of their employees have tested positive for coronavirus.

"Well sadly our PA, one more Gunman and 2 house staff tested positive. We are all thankfully negative but in isolation and quarantine for 10 to 14 days from today, to check if we develop symptoms as we are primary contacts to them. Hopefully we should get through this," Tabu tweeted.

According to the Ministry of Health and Family Welfare, there are 23,474 coronavirus cases in Karnataka including 13,255 and 372 deaths.

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News Network
February 24,2020

Bengaluru, Feb 24: Fugitive underworld don Ravi Poojary, with more than 90 criminal charges pending against him, was brought to the city in the wee hours of Monday after he was arrested from Senegal in South Africa.

Police said that he was wanted in more than 92 criminal cases. In Bengaluru alone, he was involved in more than 39 cases, including double murder of Ravi and Shobana in 2007, an attempt to murder attack on Mantri developers 2009, extortion and other crimes etc. He had committed crimes in various parts of the state including Myusuru, Hubballi, he had involved in extortion, threatening builders, politicians, etc.

"Though Senegal police had nabbed him about six months back to get him to India it took more than six months since there was no agreement to deport criminals from that state to us. However, now all legal hurdles have been removed and we have succeeded in bringing him", a top police official told media.

A team of Bengaluru Police headed by Additional Director General of Police Amar Kumar Pandey, Joint Police Commissioner Sandeep Patil reached Senegal on Saturday and brought him to the city by Air France flight.

Ravi Poojari was wanted in cases of extortion and murder and was active in the Mumbai underworld. He was part of the underworld don Dawood Ibrahim's gang and later is said to have worked with 'Chota Rajan' for some time. Claiming to be an enemy of Dawood, Poojari reportedly finished off all his associates and anti-India elements in the country. His men were involved in a shootout on the Shabanam Developers office in Bengaluru in which a woman staffer was killed.

He is also said have been involved in the shootout case of Shahid Azmi, an advocate from Mumbai. There are cases against him in Kerala, Gujarat, and Maharashtra.

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