CCD founder V G Siddhartha’s dead body recovered by the police
- Mangaluru police recovered the body of V G Siddhartha, the founder of CCD who was missing since Monday.
- He was rumoured to have committed suicide.
- The authorities found the body at 6.30 am, as per media reports. Earlier, a fisherman claimed that he might have seen a man jumping into the Netravathi river from the bridge.
"We found the body early morning today. It needs to be identified; we have already informed the family members. We are shifting the body to Wenlock Hospital. We will continue the further investigation," Mangaluru Police Commissioner Sandeep Patil said.
The authorities found the body at 6.30 am, as per media reports. Earlier, a fisherman claimed that he might have seen a man jumping into the Netravathi river from the bridge.
Siddhartha went declared missing on Monday night after his driver couldn't reach him. He reached Mangaluru at 8 pm in his SUV and asked the driver to drop him at the bridge in Ullal. The Mangaluru city police started a search operation, looking for a man who might have jumped off a kilometer-long bridge in Ullal.
He also left a letter to his employees that said, "I fought for a very 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, a transaction I had partially completed six months ago by borrowing a large sum of money from a friend."
Shares of Cafe Coffee Day slipped by 20%, to trade at ₹154 yesterday ever since the news of V G Siddhartha went missing, broke.
Over 75% of shares owned by VG Siddhartha and other promoters in Coffee Day Enterprises were pledged with creditors-- and they are worth much lesser toda
India’s coffee king V G Siddhartha’s journey from silver spoon to a gilded cage