Café Coffee Day founder Siddhartha goes missing

Café Coffee Day founder Siddhartha goes missing

Agency News

Café Coffee Day founder and son-in-law of former Karnataka Chief Minister SM Krishna, Siddhartha has gone missing from Monday onwards. Police reports said that he went missing near Netravati river off Mangaluru. Police have launched a massive search operation near the bridge near Mangaluru river where Siddhartha was seen last.Soon after his disappearance, his mobile phone also had been mysteriously switched off.

It is said that the cafe coffee Day chain owner was on his way to Mangaluru on Monday when he asked his driver to stop the car near a bridge on the Netravati River and got off.Police is trying to ascertain various angles behind his disappearance.The Café Coffee Day, the company which he found, is said to be financially in good shape.The only worrying fact is the recent took over of Mindtree, a software company in Bengaluru.

It was said that there was "tremendous pressure" from other lenders which lead him to "succumb to the situation". For the past may months, he has been hunted by the Income tax officials. Siddharta had been expressing his anguish over IT officials for the past many months.Siddhartha had alleged that there was a lot of harassment from the previous DG income tax in the form of attaching his shares on two separate occasions to block our Mindtree dea.

In May, L&T acquired around 3.27 crore Mindtree shares, or almost 20 per cent of the stake, at Rs 980 per share (for a total of Rs 3,211 crore) from Siddhartha and Coffee Day Enterprises through block deals.Police also is said to ascertain if there is any suicide. Some officials said that he might have jumped off the bridge and committed suicide.

He was talking to someone over the phone when he got off the car and went on a walk around 6:30 pm. He was talking to someone over the phone when he got off the car and went on a walk around 6:30 pm.Karnataka CM Yediyurappa and former minister DK Shivakumar has reached Krishna's residence.Income Tax raids unfair action from the part of Income Tax officials.Siddharth is very close to political circles of both fronts.

Meanwhile, Siddhartha’s last letter to CCD also has been unearthed. VG Siddhartha is married to Malavika Krishna, daughter of SM Krishna.Siddhartha has been hailed for setting the trend for coffee trader by setting up Café Coffee Day, an aspiring brand built around coffee.