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Café Coffee Day founder VG Siddhartha goes missing; talks of letting down people, IT harassment in his last letter

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Café Coffee Day founder VG Siddhartha

Café Coffee Day Group founder and former Karnataka Chief Minister, SM Krishna’s son-in-law, VG Siddhartha, has been missing since Monday night and a massive search operation has not been successful  in finding him so far, said reports quoting police today (Tuesday, July 30). 

Siddhartha, 55, reportedly left in his Innova car towards Mangaluru last night. He stopped midway at Ullal bridge across the Nethravati river near Mangaluru where he reportedly got off from his car. When he did not return even after two hours, his driver went looking for him. When he could not find Siddhartha anywhere, the driver alerted the family members who then informed the police.

“Yesterday, he had left Bengaluru saying he is going to Sakleshpur. But on the way, he told the driver to go to Mangaluru. After reaching the Ullal Bridge, he got down from the car. Siddhartha asked his driver to drive a little further and stop. He will come walking. However, he didn’t return. The dog squad used to locate him too stopped at the middle of the bridge,” Mangaluru city police commissioner Sandeep Patil said.

A letter dated July 27 purportedly written by Siddhartha to the board of directors and his CCD family has emerged in which he said he had “failed to create the right profitable business model despite my best efforts”. He added, “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, 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 me to succumbing to the situation.”

Siddhartha also mentions the “harassment” he allegedly faced at the hands of Income Tax officials.  “There was a lot of harassment from the previous DG income Tax in the form of attaching our shares on two separate occasions to block our Mindtree deal and then asking position of our Coffee Day shares, although the revised returns have been filed by us. This was very unfair and has led to a serious liquidity crunch,” he said.

Claiming complete responsibility of all the transactions done, in his letter, he left an earnest request to his team urging them to continue running the business with a ‘new management’. 

In the letter, Siddhartha has also taken responsibility for all financial transactions, which, he said, nobody was aware of.  “I sincerely request each of you to be strong and to continue running these businesses with a new management. I am solely responsible for all mistakes. Every financial transaction is my responsibility. My team, auditors and senior management are totally unaware of all my transactions. The law should hold me, and only me accountable, as I have withheld this information from everybody, including my family.”

He further wrote: “My intention was never to cheat or mislead anybody. I have failed as an entreprenuer. This is my sincere submission, I hope some day you will understand, forgive and pardon me.”

Also Read: Unnao rape: Murder case against BJP MLA Sengar and others after rape victim’s car crash

Born in to a family of coffee planters in Karnataka’s Chikkamagaluru, VG Siddhartha founded India’s first popular café chain Café Coffee Day with its first outlet opening in Bangalore’s famous Brigade Road in 1996. 

VG Siddhartha was recently in the news for selling his entire stake in midsize IT firm Mindtree to L&T. He was the largest shareholder in Mindtree and exited the company after remaining invested for close to two decades. 

In this regard, the report stated that a complaint against Siddhartha alleging insider trading during his stint at Mindtree was also filed with the Securities and Exchange Board of India (Sebi) by an anonymous person.

The report added that the complaint filed against Siddhartha had alleged that he and his firm Coffee Day group had sold shares that were pledged before various financial institutions.

The police, revenue authorities and expert swimmers are conducting search operations in the river on the assumption that he may have jumped into the river. 

Meanwhile, a spokesperson from CCD head office in Bengaluru said the company is yet to confirm the genuineness of the letter. “We are still in shock and our employees are still hoping for the best. As of now, we are yet to confirm the genuineness of the letter that is being flashed in media. We are here to ensure that business will not be hit in any circumstances,” the spokesperson said.

An intensive search operation has been mounted with over 200 policemen, divers on about 25 boats and local fishermen searching for Siddhartha at the bridge. Sniffer dogs have also been deployed at the site. The Indian Coast Guard also joined the search operation and has deployed a ship off the old Mangalore port. Three diving teams have been pressed by the Coast Guard, PTI reported.

However, due to the rain in coastal Karnataka, the water level in the river has gone up to a serious level and is causing a problem for a speedy search operation, BJP leader Shobha Karandlaje informed Union Home Minister Amit Shah. A group of Karnataka BJP MPs led by Karandlaje met Shah today and sought help from the Centre in tracing the missing CCD founder. 

Karnataka Chief Minister B S Yediyurappa and Congress leader D K Shivakumar visited Krishna at his residence in Bengaluru this morning. Krishna had served as the external affairs minister from 2009 to October 2012 in the UPA-II government and as the 16th chief minister of Karnataka.

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BJP-led Mahayuti surges ahead in BMC polls as Thackerays lose Mumbai stronghold

The BJP-led alliance has taken a strong lead in the BMC elections, signalling a major political shift in Mumbai as counting continues across Maharashtra.

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The BJP-led alliance is heading towards a decisive victory in the Brihanmumbai Municipal Corporation (BMC) elections, dealing a major blow to the Thackeray cousins’ long-standing control over Mumbai’s civic administration. Early trends from the ongoing vote count show the ruling alliance opening a clear lead in the country’s richest municipal body.

With results still being tallied, the BJP-led bloc is ahead in 115 wards of the BMC. Of these, the BJP is leading in 86 wards, while Chief Minister Eknath Shinde’s Shiv Sena has an edge in 29 wards.

In contrast, the Thackeray cousins appear to be struggling to retain their grip on the civic body they once dominated for decades. Together, they are leading in 77 wards, with Uddhav Thackeray’s Shiv Sena (UBT) ahead in 71 wards and Raj Thackeray’s Maharashtra Navnirman Sena (MNS) leading in six.

High-stakes election after nine-year gap

The BMC elections were held after a nine-year gap, following a four-year delay, making the contest one of the most closely watched civic polls in Maharashtra. Over 1,700 candidates were in the fray for 227 seats in Mumbai alone. The BMC’s annual budget exceeds Rs 74,400 crore, underscoring the political and financial significance of the results.

In the 2017 elections, the undivided Shiv Sena, which then included Eknath Shinde, had retained control of the BMC, continuing its decades-long dominance.

BJP ahead across Maharashtra civic bodies

The BJP’s strong showing is not limited to Mumbai. Across 29 municipal corporations in Maharashtra, early trends indicate that the party is leading overall. Combined figures show the BJP ahead in 909 wards, while its ally, the Shinde-led Shiv Sena, is leading in 237 wards.

In the party-wise standings, the Congress is placed third with leads in 179 seats, largely from Bhiwandi-Nizampur, Nagpur and Kolhapur. The Shiv Sena (UBT) follows with 118 seats, closely trailed by Ajit Pawar’s NCP, which is leading in 112 wards.

Pune also tilts towards BJP

Pune has emerged as another key battleground, especially as rival factions of the Nationalist Congress Party, led by Ajit Pawar and Sharad Pawar, joined hands for the civic polls. Despite the alliance, the BJP is leading in 52 seats in Pune, while the combined NCP factions are ahead in seven seats.

Large-scale polling across the state

Polling for 2,869 seats across 893 wards in the 29 civic bodies was held on Thursday. Around 3.48 crore voters were eligible to cast their ballots, deciding the political fate of 15,931 candidates, including those contesting in Mumbai.

Besides Mumbai and Pune, counting is underway in several other municipal corporations, including Navi Mumbai, Thane, Kalyan-Dombivli, Nagpur, Nashik, Pimpri-Chinchwad, Vasai-Virar, Mira-Bhayandar, Solapur, Kolhapur and Aurangabad, among others.

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International Bihar and Purvanchal Festival to be held in Sydney on March 22

Praveen Kumar reiterated, “The land of Bihar produces gold. Such a region cannot remain poor. What is needed is collective effort, work in the right direction, and the creation of opportunities for the people.”

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With the objective of providing a new global direction to development, investment, and opportunities in Bihar and the Purvanchal region, the International Bihar and Purvanchal Festival will be organised on March 22, 2026, in Sydney, Australia. This was announced by Praveen Kumar, the chief organiser of the event, during a press conference held in Patna on January 15.

Praveen Kumar said several prominent personalities from India and abroad, along with representatives from industry, policymakers, and members of the Indian diaspora, will participate in the Sydney event.

On this platform, the vision of a “Developed Bihar and Purvanchal” will be formally launched, and a concrete roadmap for Bihar’s overall development will be deliberated upon. He said the festival is not merely a cultural event but a global platform to mobilise international cooperation, investment, and policy-level support for Bihar.

“We will extend support at every level for the development of Bihar and Purvanchal and create opportunities that enable better utilisation of local talent and resources,” Praveen Kumar said.

Referring to his earlier remarks made during a podcast, Praveen Kumar reiterated, “The land of Bihar produces gold. Such a region cannot remain poor. What is needed is collective effort, work in the right direction, and the creation of opportunities for the people.”

It was also informed during the press conference that the Sydney event will feature special sessions on investment, education, skill development, culture, and diaspora engagement for Bihar. The objective is to highlight that Bihar is not only rich in potential but also capable of providing leadership on the global stage.

According to the organisers, the festival will prove to be a significant step towards giving Bihar a new international identity.

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PM Modi urges people to read Tirukkural on Thiruvalluvar Day

Prime Minister Narendra Modi on Thiruvalluvar Day appealed to people to read the Tirukkural, calling it a reflection of the humane and harmonious ideals of Tamil philosopher-poet Thiruvalluvar.

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Prime Minister Narendra Modi on Friday urged people across the country to read the Tirukkural, highlighting its enduring relevance and the intellectual legacy of Tamil philosopher-poet Thiruvalluvar.

Marking Thiruvalluvar Day, which coincides with the Pongal celebrations every year, the prime minister paid tribute to the revered scholar, describing him as a symbol of harmony, compassion and Tamil cultural excellence.

In a message shared on social media platform X, Modi said Thiruvalluvar’s works and ideals continue to inspire countless people even today. He noted that the philosopher envisioned a society rooted in compassion and balance.

The prime minister encouraged citizens to engage with the Tirukkural, a classical Tamil text that deals with various aspects of human life, ethics and governance, calling it a window into the profound intellect of Thiruvalluvar.

Thiruvalluvar Day is observed annually to honour the philosopher-poet, whose literary contributions remain central to Tamil culture and thought.

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