Mangaluru , July 30 : VG Siddhartha, Founder and owner of Cafe Coffee Day, India’s biggest coffee chain has been missing since Monday evening and efforts are underway in full swing near Netravati River in Mangaluru where he was last seen.
Siddhartha, the son-in-law of former Karnataka CM SM Krishna, in his last letter to company board and employees,wrote, “I Fought for long but today I gave up as I could not take up more pressure from one of the private equity partners forcing me to buy back shares,a transaction I partially completed six months ago …. Every financial transaction is my responsibility…the law should hold me & only me accountable.”
CCD owner Siddhartha search operation Live updates
9:20 : CCD had run into losses of Rs 7,000 crore. Along with his letter, VG Siddhartha has attached a list of all the assets and liabilities of the company.
In his last letter to the board and family of CCD, VG Siddhartha has written, “My intention was never to cheat or mislead anybody, I have failed as an entrepreneur. This is my sincere submission, I hope someday you will understand, forgive and pardon me.”
Supporters have gathered outside SM Krishna’s residence in Bengaluru Mangaluru Police Commissioner,S Patil on VG Siddhartha (in file pic) missing case:I visited SM Krishna’s (former Karnataka CM & father-in-law of VG Siddhartha) house last night. I spoke to Siddhartha’s wife&other relatives and gathered some information.I’m currently in Bengaluru.