After 36 hours of massive search in the missing CCD owner’s case, the teams of NDRF, Coast Guard, Home Guard, fire services and coastal police along with the fishermen on Wednesday scoured the waters to find V G Siddhartha’s body, 5km from a bridge across the Nethravathi River near Mangaluru.
Although Siddhartha’s family has identified the cadaver after he was shifted to the Wenlock hospital, the Dakshin Kannada police have not yet declared his death as suicide. However, the CCD management also confirmed the authenticity of the letter Siddhartha had written to the company’s board of directors on July 27.
“VG Siddhartha had admitted to more than Rs 480 crore of unaccounted income of his own and his company in 2017”, the Income Tax Department said wondering about the authenticity of a note he had purportedly written.
“The note written by Siddhartha mentioned about the attachment of Coffee Day shares by the Income Tax Department. The authenticity of the note is not known and the signature does not tally with Siddhartha’s signature as available in his annual reports,” the statement read.
The Coffee king of India went on missing since Monday leaving a letter addressed to the Board of Directors and his coffee family that alleged Income Tax Department of the tax terrorism. His words however didn’t blame anyone but himself of his failure to create the right profitable business model.
Siddhartha, who is the son-in-law to the former Karnataka CM and BJP leader SM Krishna, said further in his letter that he was tired of all the financial footfalls and that he was giving up. “I would like to say I gave it my all. I am very sorry to let down all the people that put their trust in me. I fought for a long time but today I gave up as I could not take any more pressure from one of the private equity partners forcing me to buy back shares..”, the note read.
V G Siddhartha belongs from a coffee growing family in Chickmagalur district and made the Coffee Day big through his vision and hard work. He first founded Cafe Coffee Day in mid 1990s on Brigade Road which has now become an international brand. Besides CCD, he also found a hospitality chain which runs a seven star resort Serai and Cicada.
COURTESY:- NEWS BHARATI