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 5,2020

Bengaluru, Jan 5: Former Deputy Chief Minister G Parameshwara has said the Karnataka Congress has unanimously decided to appeal to the party high command regarding the appointment of KPCC President and Congress Legislature Party (CLP) leader in the state.

Speaking to reporters, the Congress leader said, "We have decided to gather the opinion of senior leaders regarding the selection of Karnataka Pradesh Congress Committee (KPCC) president and opposition leaders. We will appeal to the high command regarding the same. The party will decide its next course of action."

He made these remarks after a meeting of senior party leaders was held at Parameshwara's residence here on Saturday.

Adding that the Congress leaders discussed the current political scenario in the state, Parameshwara said: "We held a meeting to reiterate that we are not confused and we all are together."

"There has been no personal discussion on who should be the president," he said.

Earlier, KPCC president Dinesh Gundu Rao and former Chief Minister Siddaramaiah had tendered resignation from their respective posts owning moral responsibility for the party's poor performance in the recent by-polls.

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News Network
June 4,2020

Jun 4: Belur Mutt, the global headquarters of Ramakrishna Mutt and Ramakrishna Mission, has decided to throw open its gates to the devotees from June 15 after putting in place all safety measures required to contain the spread of COVID-19.

The gates of the sprawling premises of the mutt set up by Swami Vivekananada at Belur near here was closed since the lockdown was announced in March by the Centre. The Mutt has devotees from across the globe.

The secretary of Belur Mutt Ramakrishna Mutt and Ramakrishna Mission, Swami Suvirananda said in a statement that as the easing down of lockdown measures announced by the Centre and the state did not indicate the threat caused by COVID-19 pandemic is over, the authorities thought it prudent to put in place all the measures required before opening the gates of the Mutt and all RKM centres in the country for the scores of devotees.

The statement was issued on June 1, the day religious places of worship were thrown open by the West Bengal government.

"We had to think about both aspects - the issue of public health and also the wish of our devotees for having a darshan of the shrines of Swami Vivekananda, Sri Sarada Maa and Ramamrishna Paramahansa. But we believe spirituality and sceintific temparament must go hand in hand," he told reporters on Thursday.

"Therefore it is imperative for us to consult experts and put in place adequate arrangement and infrastructure" before opening the (Belur Mutt) gates," he said.

The senior monk said the timing of the opening and closure of the shrine and all other details conforming the health protocol and guidelines will be announced before opening date.

The Mutt complex had become totally out of bound for visitors from March 24 when the lockdown was clamped. There was restricted entry to it since May 16.

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News Network
March 20,2020

Thiruvananthapuram, Mar 20: One more person tested positive for coronavirus on Thursday, taking the total number of cases to 25, as the Left government announced a Rs 20,000 crore financial package to tide over the present crisis being faced by the southern state in the wake of the virus outbreak.

The multi-crore special package includes Rs 500 crore health package, Rs 2,000 crore loans and free ration.

The man who tested positive had returned from Dubai and hailed from the northern Kasaragod district, Chief Minister Pinarayi Vijayan told reporters after a COVID-19 review meeting.

He said 65 people were hospitalised on Thursday.

"At least 31,173 people are under surveillance, of whom 237 are in observation in hospitals across the state" he said.

Detailing the financial package, Vijayan said loans worth Rs 2,000 crore would be made available to needy families through all-women network 'Kudumbashree' during April-May.

Rural employment guarantee programmes worth Rs 1,000 crore each will be implemented in April-May, he said.

Social security pension of Rs 1,320 crore, to be given in April, would be distributed this month, he said, adding that 50 lakh people are benefited through the pension scheme.

Those belonging to the below poverty line (BPL) and Anthyodaya, who are not receiving social security pension, would be given Rs 1,000 each, for which Rs 100 crore would be earmarked.

Cutting across APL and BPL families, 10 kg free ration would be given and Rs 100 crore would be set apart for the purpose, he said.

A string of 1,000 low-cost hotels, providing food at Rs 20, would be opened across the state next month, the chief minister added.

The 'fitness' charges of autorickshaws and taxis and one month tax of stage and contract carriages would be waived, Vijayan said.

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