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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Media Release
January 21,2020

Mangalore, Jan 21: Former city councillor and social activists Naveenchandra and social activist Vidya Dinker have been invited to participate in two-day National Level Consultation on Urban Governance which will take place on January 22 and 23 at Juniper Hall, India Habitat Centre, New Delhi.

Urban governance stakeholders of 20 states and one union territory will be participating in this national level consultative seminar. The participants will include elected representatives, NGO representatives and urban planning experts. The seminar is being organised by Mumbai based Prajna Foundation, which has undertaken an in-depth study of the governance of the 20 states and one union territories.

Having served several terms as a corporator of Mangaluru City Corporation, Naveenchandra is knowledgeable in matters relating to urban governance. He is very popular in his constituency. Vidya Dinker is a well known city based social activist. She is the Coordinator, Citizens Forum for Mangalore Development.

Comments

Kedar
 - 
Wednesday, 22 Jan 2020

Vidya Dinker I can understand but Naveen i don't know on what qualifications and credentials he has been selected and to say he is Popular in his constituency is a Misnormer .  Just visit kambla ward once and speak to people and you can understand it better !!!

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News Network
April 6,2020

Bengaluru, Apr 6: Karnataka State Board for Auqaf on Monday suspended mass prayers and visit to the Qabrasthans (graveyards) and dargahs on the occasion of Shab-e-Barat on April 9 due to the coronavirus pandemic.

"It is hereby directed to all not to hold congregational prayer in the Masjid and the management of the Qabrasthans/Dargahs throughout the State should suspend the visit of public on the occasion of Shab-e-Barat on Thursday, April 9," according to a statement here on Monday.

It said, no public shall be allowed to perform religious rituals in the Qabrasthans/Dargahs and all the gates shall be kept closed.

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News Network
June 8,2020

Bengaluru, Jun 8: Veteran Congress leader Mallikarjun Kharge on Monday filed his nomination as the party's candidate for the June 19 Rajya Sabha polls from Karnataka.

The former union minister filed his nomination in the presence of KPCC President D K Shivakumar, Leader of Opposition Siddaramaiah and other senior party leaders at the office of Legislative Assembly Secretary M K Vishalakshi, who is the returning officer for the polls.

Ahead of filing of nomination, the Congress Legislature Party meeting was held under the leadership of Siddaramaiah, after which Shivakumar issued "B-form" to Kharge.

The Congress high command on June 5 had announced Kharge as the party's candidate for the Rajya Sabha polls.

The election is scheduled on June 19 to fill four Rajya Sabha seats from Karnataka represented by Rajeev Gowda and BK Hariprasad of the Congress, Prabhakar Kore of the BJP and D Kupendra Reddy of the JD(S) that will fall vacant on June 25, with their retirement.

June 9 is the last date for filing nominations.

Congress with 68 MLAs in the assembly can win one of the four seats easily on its own, so Kharge's victory is said to be certain.

This will be the first stint in Rajya Sabha for Kharge, who has always got elected directly by the people in his political career spanning over four decades.

The leader, earlier popularly known as "solillada Saradara", (a leader without defeat), faced his first electoral loss in his political life against BJP's Umesh Jadhav in Gulbarga by a margin of 95,452 votes during the 2019 Lok Sabha polls.

A nine-time MLA and two-term Lok Sabha member, he had served as Congress floor leader in the previous Lok Sabha, and also as Union Railway and Labour Minister during the UPA government.

Kharge, who is 77-years-old, has also served as minister during several Congress governments in the state, and as KPCC President and Leader of Opposition in the Karnataka Assembly in the past.

His son, Priyank Kharge, is currently MLA representing Chittapur constituency and had served as minister during the previous Congress and coalition governments.

JD(S) patriarch and former Prime Minister HD Deve Gowda is the JD(S) candidate.

The regional party that has 34 seats in the assembly is not in a position to win a seat in Rajya Sabha on its own, and will need the support from the Congress with its surplus votes.

A minimum of 44 votes are required for candidates to win.

BJP with 117 members in the assembly (including Speaker), can ensure easy victory in two seats.

The BJP's central leadership on Monday sprang a surprise by fielding Eranna Kadadi and Ashok Gasti as its candidates for the Rajya Sabha election ignoring the recommendations of the state BJP unit.

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