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 12,2020

Bengaluru, May 12: Last week, a 28-year-old, eight-months pregnant woman, was found murdered at her house, in Diburahalli. The woman was hacked to death with a machete during the day and was discovered only after her family members returned home, later in the day. After the alleged murder, the accused tried to destroy the evidence, by cleaning the crime scene, and wiping the bloodstains off the walls and floors.

The victim was a homemaker and her husband is employed in the railway department. The police suspected that the murder was a result of someone known to the woman and family, and were soon proved right. The woman was murdered by her own brother-in-law, frustrated with her for allegedly not taking care of his mother and other family members properly.

The victim has been identified as Jyothi, and the accused is her husband’s brother Hareesh Babu, 38. “Jyothi and the accused are alleged to have had differences for the past few years. Their fights kept escalating over the years. She had also informed her family and her husband about the regular fights with the brother-in-law. The accused had been advised by the family, to back off from Jyothi. Owing to his violent streak, Babu’s wife had deserted him and their son. Since his wife’s departure, he had started troubling his brother’s wife and was regularly picked a fight with her.

He complained that Jyothi neglected to take care of his mother and other family members. Investigations reveal these as false allegations, and in fact, Babu’s son was being raised by Jyothi,” said an officer on part of investigations.

Last week, when the victim was resting at home, the accused returned home at around 10.30 am and picked up a fight with her. The fight escalated and Babu ended up hacking her to death with a machete. The victim’s father Nagaraj, at the time of filing a complaint, mentioned Babu’s regular fights with Jyothi and suspected his role in the murder of his pregnant daughter.

The accused, after killing her, had gone to the farm and pretended to not knowing about the the happenings back home. Based on the complainant’s suspicion, the police picked up Babu. After a thorough interrogation, Babu reportedly confessed to the murder of his sister-in-law. The machete, which was used for Jyothi’s murder, was also recovered by the police team.

A case of murder under section 302 of the Indian Penal Code has been registered and further investigations are underway.

Comments

abdullah
 - 
Tuesday, 12 May 2020

Put this case in fast track and hang him immediately.  No mercy should be shown on such inhumans.

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News Network
July 28,2020

Bengaluru, Jul 28: In view of the COVID-19 pandemic, the Bruhat Bengaluru Mahanagara Palike (BBMP) on Monday advised people not to visit temples, mosques and other places of worship during the coming festival season.

"COVID-19 is now spreading rapidly in Karnataka, especially in Bengaluru. The festival season is starting with Varamahalakshmi festival on July 31, followed by Bakrid, Raksha Bandhan, Janmashtami, Gowri Ganesha, Moharram and then Onam. This festival season is the riskiest time for the spread of the coronavirus. Therefore, please STRICTLY follow the rules in order to stay safe. Do not visit religious places even if they are officially declared open," a notification from BBMP said.

In the context of Bakrid, unauthorised animal sacrifice (slaughtering) was prohibited in BBMP limits on roads and sidewalks, religious places, school and college premises, playgrounds and other public areas, as per the Karnataka Municipal Corporation Act of 1976.

"Unauthorised animal sacrifice (slaughtering) is a punishable offence under Section 3 of the Karnataka Prevention of Animal Sacrifices Act 1959 and Rules and the Amendment Act 1975, which provides for a maximum penalty of six months or Rs 1000, or both. According to the Karnataka Prevention of Animal Sacrifices Act 1959, slaughter-worthy animals can only be slaughtered in official slaughterhouses," the notification said.

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News Network
June 18,2020

Bengaluru, Jun 18: Karnataka Public Service Commission (KPSC) was reprimanded for withholding information, sought by a candidate regarding an examination held in 2005 for Gazeted Probationary posts, by the State Information Commissioner here on Thursday.

According to official sources, the State Information Commissioner NP Ramesh, while disposing off a petition by the candidate, who had written an examination conducted by the KPSC for the gazeted probationary posts held in 2005, had directed to provide the information sought by the candidate, free of costs within ten days.

The State Information Commissioner in his order had termed the conduct of the KPSC as against the spirit of transparency among the public authorities.

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