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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coastaldigest.com news network
June 13,2020

Mangaluru, June 13: Commending the Karnataka government move to ban the online classes for children up to Standard 5, Mangaluru MLA U T Khader has demanded to impose ban on all education apps that offer online coaching to school children.

"I welcome the government’s decision of banning online classes up to class 5. I would like to know why education apps of corporate companies are allowed to continue when schools are banned to conduct online classes. Why the government could not ban those education apps that offer online classes?” the former minister questioned.

He warned that private schools in the state may commence their online classes through such apps of corporate companies if the present situation continues.

Not all parents in the state can afford buying smart phones required for online classes, he said. "Only 30% of the school children in the state have access to smart phones. Most of the parents cannot afford to buy smart phones for their children. Government should take into consideration the mental stress of academically brilliant children among poor families. Those children may go under depression when they do not have access to online classes. The government can cancel some of the schemes like distribution of bicycles and reserve such funds to find solutions to the problems poor children face at present,” Khader said.

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coastaldigest.com news network
July 29,2020

Mangaluru, July 29: Justifying the transfer of Dakshina Kannada deputy commissioner Sindhu B Rupesh, district in-charge minister Kota Shrinivas Poojari has accused Mangaluru MLA U T Khader of politicizing the issue. 

The IAS officer was transferred by the Karnataka government on July 28, a day after a saffron activist issued a death threat against her on social media after she warned of legal action against the miscreants who attack cattle traders.

Condemning the development, Mr Khader had tweeted that the state government has punished the deputy commissioner instead of punishing the culprit, who issued death threat.

Responding to Mr Khader’s tweet, Mr Poojari said that the transfer of the officer was on administrative ground. “It is unfortunate that Khader politicized a transfer carried out by the government on administrative ground. This is not Khader’s time to protect any accused,” tweeted Mr Poojari. 

It is worth mentioning here that Mr Khader was the district in-charge minister of Dakshina Kannada before Mr Poojari taking over the position. 

Meanwhile, police has arrested a person in connection with the death threat against the IAS officer.

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coastaldigest.com web desk
June 14,2020

Benglauru, June 14: Even as schools are divided over providing online education, the state Higher Education Department is stressing on continuing online education.

Deputy Chief Minister and Higher Education Minister Dr C N Ashwath Narayan has stressed the need for digital learning to eliminate educational inequalities.

Taking part in a Webinar on ‘Digitising Higher Education - Challenges and Opportunities,’ organised by the Padmashree Institute of Management, he asked educational institutions to give emphasis to digital learning.

“Digital learning is a means to ensure quality education to all sections of the society without discrimination on the basis of caste, region and religion. This is a solution to eliminate discrimination. Through digital learning, a student in a remote village will also get an opportunity to learn from an experienced and highly qualified teacher.”

In addition to this, students are getting study material in digital form. Keeping these important aspects in mind, all educational institutions should give stress to digital learning without wasting any time,’’ he said.

He, however, admitted that digital learning has its own challenges like - quality internet connectivity, laptops and mobile gadgets.

“We are trying to find a solution to it by raising funds through Corporate Social Responsibility or through government funds,” he said. “We are making efforts to provide 4G network across the State,” he said.

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