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
March 25,2020

Bengaluru, Mar 25: Bengaluru Police Commissioner Bhaskar Rao on Wednesday called a meeting of online, e-commerce food, medicine, groceries or animal products delivery aggregators at his office in wake of situation arising out of lockdown imposed in the entire country due to coronavirus epidemic.

The Police Commissioner has appealed one representative from each agency to join him in the meeting at 7 pm.

"I have called a meeting of online, e-commerce food, medicine, groceries, vegetables/fruits or animal products delivery aggregators today at 7 pm at my office at Infantry Road, Bengaluru," said Rao.

"One representative from each agency may please come. We promise all cooperation, please come," he said.
The Indian Council of Medical Research (ICMR) on Wednesday confirmed 539 positive cases of coronavirus in the country.

Prime Minister Narendra Modi had on Tuesday announced a 21-day lockdown in the entire country effective from midnight to deal with the spread of coronavirus, saying that "social distancing" is the only option to deal with the disease, which spreads rapidly.

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News Network
March 11,2020

Bengaluru, Mar 11: Jyotiraditya Scindia has not betrayed the Congress, but he has been betrayed by the Congress and Kamal Nath, said on Wednesday Madhya Pradesh Congress MLAs who are camping here after tendering the resignations.

"It is not Jyotraditya Scindia who has betrayed. Instead, he has been betrayed by the Congress and Kamal Nath. Despite the fact that it was his hard work that enabled Congress to form the government in MP after 15 years, yet he was being sidelined. His people were sidelined," Mahendra Singh Sisodia was heard saying in a video.

Taking a veiled jibe at Chief Minister Nath, Sisodia said: "On one hand, you claim that treasury is empty and on the other, works worth Rs 12,000 crore is done in Chhindwara constituency. Are the rest of MLAs and ministers just killing time?"

He also warned other Congress MLAs that the party would be decimated in the state in the future.

"Did not the Congress trick people in MP? What happened to the farm loan waiver announced? When we go to our region, people ask us what happened to loan-waiver.
What happened to curb corruption, Vyapam? Whichever party Scindia joins, we will go with him," he said.

Former MP Minister Imarti Devi said that all 22 MLAs are in Bengaluru out of their own choice.

"All 22 MLAs are here (in Bengaluru) on their own will. We are happy Scindiaji has taken this decision. I will always stay with him even if I had to jump in a well. Kamal Nathji never heard us," she said.

Another leader dismissed talks of being in touch with anyone and said that they are happy with the decision of Scindia, who joined the BJP earlier today. He had resigned from the Congress on Tuesday.

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News Network
May 15,2020

Belthangady, May 15: Carcases of more than 50 monkeys were found at Bandaru gram panchayat in the taluka here on Friday.

The carcasses were found on the Kundalapalke-Padmunja road in Bandar village. Locals had seen the monkeys’ carcasses night of Thursday and informed authorities about it.

Kaniyuru Health Centre’s medical assistant Swatantra Rao and Ujire health Centre’s Medical Officer, Forest Department staff, veterinarians and local Panchayat officials visited the spot.

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