CCD founder VG Siddhartha goes missing, Coast guard joins search operation and deploys ship off Mangalore Port

As search operation intensifies to search Cafe Coffee Day founder VG Siddhartha, coast guard issued a statement on July 30 that search operations are being undertaken by Air Cushion Vehicle. On Monday evening, Siddhartha went missing from near bridge at Netravati river while he was on his way to Mangalore. coast guard statement also stated that it is providing support to CG diving teams by deploying ships. A total of three diving teams, along with district disaster relief team, has been deputed to carry out search for Siddhartha. ICGS Rajdoot has been tasked to patrol off  old Mangalore Port and maintaining a sharp lookout very close to harbour mouth, while ICGS Savitribai Phule has been kept on standby.

CCD FOUNDER MISSING

On reaching a bridge over Netravati river in Kotepura area in Dakshina Kanna district, he got down from car and told his driver that he was going for a walk. It was n driver contacted police. On Monday evening, Siddhartha left from his Bengaluru residence with his driver enroute to his estate in Sakaleshwar, Karnataka.Midway he reportedly asked his driver to take route to Mangalore. On arriving at bridge of Netravati river, as per his driver, he asked him to go ahe while he would come walking. It was n that he vanished mysteriously and driver informed family.

RE: Cafe Coffee Day shares plunge 20% as founder VG Siddhartha goes missing

CCD ISSUES STATEMENT AS ITS FOUNDER WENT MISSING:

Amid ongoing search operation to find missing Cafe Coffee Day founder VG Siddhartha, CCD itself has written a letter to  National Stock Exchange (NSE) underscoring 'continuity of business' and that any update in matter will be briefed. statement released on July 30 stated following:

"This is to inform you that Mr VG Siddhartha Chairman and Managing Director of Cafe Coffee Day Enterprises Limited has gone missing since yesterday evening. We are taking help of concerned authorities. Company is professionally mand and led by competent leership which will ensure continuity of business." 

RE: CCD's Statement Amid Founder VG Siddhartha Going Missing: 'Taking Authorities' Help; Will Ensure Continuity'

LETTER OF VG SIDDHARTHA TO CCD BOARD 

Meanwhile, in what is believed to be his last letter, dressed to company's board, VG Siddhartha emotionally wrote about having failed as an entrepreneur, though he did also allege harassment by I-T authorities. "I hope someday you will understand, forgive and pardon me," he stated in letter. 

"I would like to say I have given it my all. I am very sorry to let down all people that put ir trust in me. I fought for a long time but today I have given up as I could t take any more pressure from one of private equity partners forcing me to buy back shares,a transaction I h partially completed six months ago by borrowing a large sum of money from a friend. Tremendous pressure from or lenders le to me succumbing to situation. re was a lot of harassment from previous DG income tax in form of attaching our shares on two separate occasions to block our Mindtree deal and n taken possession of our Coffee Day shares, although revised returns have been filed by us. This was very unfair and has led to a serious liquidity crunch," letter stated. 

RE: Cafe Coffee Day founder VG Siddhartha's emotional last letter to staff before going missing: 'I have failed'

LEERS VISIT SM KRISHNA'S RESIDENT AS HIS SON-IN-LAW AND CCD FOUNDER GOES MISSING

Cutting across party lines, Karnataka CM BS Yeddyurappa, JD(S) chief HD Kumaraswamy, Congress leers DK Shivakumar, BL Shankar and ors visited former Karnataka CM SM Krishna at his residence in Bengaluru on Tuesday morning. Siddhartha is married to Krishna's eldest daughter Malavika and has two children with her. People gared at former Karnataka CM, SM Krishna's residence in Bengaluru as news about his son-in law's disappearance spre. Siddhartha's wife and two sons who live with him in his Sashivnagar residence in Bengaluru are currently in veteran politician Krishna's residence. 

RE: Cafe Coffee Day founder VG Siddhartha goes missing, search operation underway