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

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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
April 27,2020

Mangaluru, Apr 27: Two more people including an elderly woman have been tested positive for the novel coronavirus in Dakshina Kannada. 

With this the total number of covid-19 cases in the district reached 21, though most of them have recovered and returned home. 

In its today's bulletin, the health and family welfare department confirmed that a 45-year-old man and his 80-year-old mother tested positive for the deadly disease. 

It is learnt that one of them had undergone treatment at a private hospital where a woman from Bantwal, who died of covid-19, was being treated for breathing difficulties, before she was shifted to Wenlock Hospital which is now converted into covid-19 hospital.

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News Network
January 20,2020

Mangaluru, Jan 20: The improvised explosive device (IED) recovered from a bag at Mangaluru airport was defused in an open field by the personnel of the bomb disposal squad on Monday. 

A short while ago, the Commissioner of Police in Mangaluru, PS Harsha, narrated the incident, along with the action taken by the security personnel.

"Today at approx 9 am a suspect dropped the baggage, containing plausible explosive substances, at the Mangaluru airport. It was spotted by the security personnel and then the bomb detection and disposal team was pressed into action," Harsha told reporters here.

"The area was cordoned off and then the suspected object was taken in a threat containment vehicle to a spot for defusing the explosive device. The local police have registered an FIR in this connection based on the complaints of CISF," he added.

The Commissioner said that three teams have been formed for "identification and apprehension of the accused."
He further said that the visuals of the suspect have been shared for his identification, and urged citizens of Mangaluru and around the nation to come forward and inform the police if they have any knowledge of the accused.

"Our teams have made some breakthrough and established few preliminary facts and I am assured we will be able to trace out the execution plan of the act of sabotage," he added.

Also Read: Security beefed up at airports across country after suspicious bag found at Mangaluru airport

Comments

bond
 - 
Tuesday, 21 Jan 2020

deepvali rocket new model lunch in kenjar  airport 

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coastaldigest.com news network
June 19,2020

Udupi, June 19: The coronavirus has claimed second life in the coastal district of Udupi. The victim is a 54-year-old person who had returned from Mumbai.

A resident of Tekkatte in Kundapur taluk of Udupi district, the person was among four travellers that returned together from Maharashtra on June 18. 

Even though all four were asymptomatic they were home quarantined separately as per norms. According to sources, all of a sudden he collapsed at home and died. His throat swabs tested positive for the coronavirus, according to deputy commissioner G Jagadish.

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