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 10,2020

Bengaluru, May 10: Former Karnataka Chief Minister HD Kumaraswamy on Sunday accused the state government of not preparing proper guidelines to bring back people who are stranded near the Karnataka-Maharashtra border areas.

"No proper guidelines have been given to officials to bring back people who are stranded near the Karnataka-Maharashtra border. From the last 45 days, many of these people have not got any relief nor are there any proper directions or guidelines from the state government," alleged Kumaraswamy.

He also accused the state government of cheating the people of Karnataka.

"Karnataka government is cheating people the same way it cheated with the flood compensation. The state government had announced lakhs of rupees as compensation to those who lost houses in the flood last year. But nobody has got the records or details as to how many people got benefited from it," he added.
Fifty-three more COVID-19 cases were reported in Karnataka on Sunday, the state government said.

The total number of cases in the state is at 847, including 405 discharged and 31 deaths so far, the bulletin said.

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News Network
March 5,2020

Bengaluru, Mar 5: Karnataka government on Thursday set aside Rs 400 crore to construct twin towers building with 25 floors here at Anand Rao Circle to facilitate all government departments to function at one place.

"To facilitate all the Government Departments to function in one building, a "Twin-Towers" building with 25 storeys will be constructed at Arland Rao Circle, Bengaluru, with an expenditure of Rs 400 crore," said Karnataka Chief Minister Yediyurappa while presenting the budget in the state Assembly.

He further said that the road cross-over facility for pedestrians other than metro commuters will be provided through 24 metro stations.

"The construction of 56 km long Outer Ring Road - Airport Metro from Central Silk Board junction to Bengaluru International Airport via K R Puram and Hebbala at an estimated cost of Rs 14,500 crore will be commenced during the year 2020-21," he said.

Rs 1,000 crore budget each have been announced for the restoration of Bengaluru roads for two years, 276 Karnataka public school for their infrastructure development.

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News Network
February 22,2020

Belagavi, Feb 22: A madrasa in Karnataka’s Belagavi district hosted a Hindu-Muslim mass marriage on its premises on Friday, sending a strong message of communal amity. As many as 76 Muslim couples and 25 Hindu couples entered marital life on the occasion.

Madarsa Al Arabia Anwarul Ulooma, an Islamic religious institute in Bailhongal, 50km from Belagavi district headquarters, played host to the event that was organised by Jamia Faizan-ul-Quran and Issa Foundation, which has conducted mass marriages on a bigger scale in Gujarat.

The mass marriage comes a month after the 100-year-old Cheravally Jamaat Masjid in Kerala’s Kayamkulam in Alappuzha hosted a Hindu wedding, complete with a vegetarian feast for 4,000 people. A Hindu priest led the rituals, and the couple sought the blessings of chief imam Riyasudeen Faizy of the mosque.

At Bailhongal, moulvis and pontiffs led the marriage proceedings and asked the couples to read passages from Quran and Bhagvad Gita.

The Hindu couples were gifted a copy of the Gita, and newly-married Muslim couples received a copy of Quran. The organisers provided each Hindu bride a mangalsutra. Bailhongal MLA Mahantesh Koujalagi blessed the couples at the event, which was attended by more than 4,000 people.

Mohammad Rafique A Naik, a member of Jamia Faizan-ul-Quran, said they have gifted each couple a refrigerator, an almirah and a tailoring machine. Ranjita Kalala, a bride who married a daily-wage labourer, said her family couldn’t afford the cost of a wedding, adding, “When we learnt about the Bailhongal madrassa’s plan, we agreed to sign up because it also sends out a message of communal harmony.”

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