India’s largest coffee chain, CCD (Cafe Coffee Day), founder VG Siddhartha body has been finally traced at Nethravathi river. The search operation took a complete 30 hours of relentless searh. Siddhartha, who went missing on Monday evening, left everybody surprised and baffled.
The coffee baron was last seen on Monday evening when he directed his SUV driver to head to Nethravathi bridge after he arrived in Bengaluru. The river is located about 350 km from Bengaluru on the outskirts of Mangaluru. As per Sandeep Patil, the Mangaluru police Commissioner, “We found a body early morning today around 6 am, which appears to be that of VG Siddhartha. It needs to be identified, we have already informed the family members. We are shifting the body to Wenlock Hospital. We will continue further investigation.”
At this point, it is speculated that the 60-year-old businessman committed suicide by jumping off the bridge. Apparently, Siddhartha was under a lot of pressure. In his last letter to CCD employees, he wrote:
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, a transaction I had partially completed six months ago by borrowing a large sum of money from a friend. Tremendous pressure from other lenders lead to me succumbing to the situation.
His body was moved to the Wenlock Hospital for performing a post-mortem. For now, his remains have been shifted to his home town Chikkamagaluru where the last rites will be performed.
Former Karnataka CM Siddaramaiah has paid his condolences through Twitter.
Vijay Mallya, on the other hand, condemned the bank system.
All the corporate branches of CCD will remain closed. However, CCD outlets will stay open for consumers.