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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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5 years ago

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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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Karnataka’s Republic Day tableau depicts artistic temples of Lakkundi

Beyond its religious significance, Lakkundi’s historical importance cannot be overstated. Once a flourishing commercial hub between the 10th and 12th centuries AD, the city flourished under the rule of various dynasties, with the Chalukyas leaving an indelible mark on its cultural landscape.

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17 mins ago

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January 26, 2025

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Karnataka’s 76th Republic Day tableau paid a vibrant tribute to Lakkundi, a historical city nestled in Gadag district, approximately 70 km from Hubballi. Acclaimed as the “Cradle of Stone Craft,” Lakkundi’s architectural splendour took centre stage in the parade along Kartavya Path.

The tableau’s design masterfully captured the essence of Lakkundi’s rich heritage. The forefront showcased the majestic Brahma statue from the Brahma Jinalaya temple, the oldest Jain shrine in the city, dedicated to Lord Mahaveera. Its intricate details and imposing presence immediately drew the viewer’s attention, setting the tone for the tableau’s narrative.

Following the Brahma statue was a depiction of the open-pillared mantapa of the Brahma Jinalaya temple, a testament to the sophisticated architectural techniques employed during the era. The open structure, with its elegant pillars and intricate carvings, added another layer of visual appeal to the tableau’s composition.

The tableau’s main section provided a breathtaking glimpse into the grandeur of Lakkundi’s most prominent temples. The Kashi Vishweshwara temple, dedicated to Lord Shiva, stood as a symbol of architectural mastery. Its ornate carvings and imposing structure were vividly represented, highlighting the city’s rich religious and cultural tapestry. Completing the ensemble was the Nanneshwara temple, another significant Shiva temple in Lakkundi, further emphasizing the city’s devotion to Lord Shiva.

The temples of Lakkundi are not merely structures of stone; they are living testaments to the syncretic nature of Karnataka’s culture. They reflect a harmonious blend of different faiths and traditions, showcasing the state’s long-held reputation for religious tolerance and peaceful coexistence. Karnataka, known as the “SarvaJanangadaShaanthiya Thota” or “garden of peace,” embraces diversity, and Lakkundi’s temples embody this spirit.

Beyond its religious significance, Lakkundi’s historical importance cannot be overstated. Once a flourishing commercial hub between the 10th and 12th centuries AD, the city flourished under the rule of various dynasties, with the Chalukyas leaving an indelible mark on its cultural landscape.

The city’s legacy extends beyond its temples; its numerous step wells and inscriptions serve as invaluable historical records. With over 50 temples, most dedicated to Lord Shiva, 101 stepwells, and 29 inscriptions, Lakkundi presents a captivating journey through time, an unparalleled treasure trove for history and architecture enthusiasts. The tableau served as a powerful reminder of Lakkundi’s enduring legacy, highlighting the artistic prowess and cultural richness of the Kalyani Chalukyas.

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K M Cherian, eminent Indian cardiac surgeon, passes away

He was a Fellow of the Royal Society of Medicine in London, an Honorary Member of the Malaysian Association for Thoracic and Cardiovascular Surgery, and a recipient of the prestigious Padma Shri award from the Government of India in 1991.

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26 mins ago

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January 26, 2025

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Dr. K.M. Cherian, a towering figure in Indian medical history and a renowned cardiac surgeon, passed away on Saturday night in Bengaluru at the age of 82. His sudden death cast a pall over the nation, leaving a void in the field of cardiology and beyond. He had travelled to Bengaluru to attend a wedding when he unexpectedly collapsed.

His daughter, Sandhya Cherian, confirmed the tragic news, stating that he was rushed to Manipal Hospitals, where he was pronounced dead at 11:55 pm. The medical community mourns the loss of a true giant, a pioneer whose contributions reshaped the landscape of cardiac surgery in India.

Dr. Cherian’s legacy extends far beyond his impressive list of accomplishments. His pioneering spirit led him to achieve what was once considered impossible in India. In 1975, he etched his name into the annals of medical history by becoming the first surgeon in the country to successfully perform a coronary artery bypass surgery (CABG).

This groundbreaking achievement marked a turning point, paving the way for countless life-saving procedures and advancements in the field. His expertise and dedication earned him international acclaim, transcending geographical boundaries and establishing him as a leading authority in cardiac surgery.

His profound impact on the medical landscape is further exemplified by his instrumental role in the establishment and growth of the Madras Medical Mission (MMM) in Chennai. As Founder, Vice President, and Director of this leading healthcare institution, Dr. Cherian spearheaded its development into a centre of excellence for cardiac care. His vision and leadership nurtured a culture of innovation and excellence, shaping generations of medical professionals and leaving an indelible mark on the institution.

Beyond his professional achievements, Dr. Cherian was recognised for his exceptional qualities and numerous accolades. He was a Fellow of the Royal Society of Medicine in London, an Honorary Member of the Malaysian Association for Thoracic and Cardiovascular Surgery, and a recipient of the prestigious Padma Shri award from the Government of India in 1991. These honours reflected not only his exceptional surgical skills but also his unwavering commitment to medical excellence and ethical practice.

Even in his final days, Dr. Cherian’s dedication to his profession and his unwavering belief in the importance of compassionate patient care shone through. Just a day before his passing, he participated in the Kerala Literature Festival in Kozhikode, where he shared his insights and experiences, emphasizing the crucial role of empathy in the doctor-patient relationship.

His words resonated deeply with the audience, underscoring his dedication to ethical medical practice and leaving a lasting impression. The nation mourns the loss of a remarkable individual, a medical visionary whose contributions continue to shape the future of cardiac care in India. His memory will be cherished by all who had the privilege of knowing him.

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Padma Awards 2025: Full list of Padma Vibhushan, Padma Bhushan, Padma Shri awardees

The awards recognize outstanding achievements across all fields, with a focus on public service. The recipients are selected by a committee appointed by the Prime Minister.

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1 hour ago

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January 26, 2025

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The central government announced the recipients of the prestigious Padma Awards on Saturday. These awards, conferred annually on the eve of Republic Day, represent India’s highest civilian honours. They are presented in three categories: Padma Vibhushan (for exceptional and distinguished service), Padma Bhushan (for distinguished service of a higher order), and Padma Shri (for distinguished service).

The awards recognize outstanding achievements across all fields, with a focus on public service. The recipients are selected by a committee appointed by the Prime Minister.

This year, a total of 199 awards were presented: 7 Padma Vibhushan, 19 Padma Bhushan, and 113 Padma Shri. The President of India bestows these awards at a formal ceremony in Rashtrapati Bhawan, typically held in March or April.

List of Padma Award Winners 2024:

Padma Vibhushan:

  • Duvvur Nageshwar Reddy
  • Justice (Retd.) Jagdish Singh Khehar
  • Kumudini Rajnikant Lakhia
  • Lakshminarayana Subramaniam
  • MT Vasudevan Nair (Posthumous)
  • Osamu Suzuki (Posthumous)
  • Sharda Sinha (Posthumous)

Padma Bhushan:

  • A Surya Prakash
  • Anant Nag
  • Bibek Debroy (Posthumous)
  • Jatin Goswami
  • Jose Chacko Periappuram
  • Kailash Nath Dikshit
  • Manohar Joshi (Posthumous)
  • Nalli Kuppuswami Chetti
  • Nandamuri Balakrishna
  • PR Sreejesh
  • Pankaj Patel
  • Pankaj Udhas (Posthumous)
  • Rambahadur Rai
  • Sadhvi Ritambhara
  • S Ajith Kumar
  • Shekhar Kapur
  • Shobana Chandrakumar
  • Sushil Kumar Modi (Posthumous)
  • Vinod Dham

Padma Shri:

  • Advaita Charan Gadanayak
  • Achyut Ramchandra Palav
  • Ajay V Bhatt
  • Anil Kumar Boro
  • Arijit Singh
  • Arundhati Bhattacharya
  • Arunoday Saha
  • Arvind Sharma
  • Ashok Kumar Mahapatra
  • Ashok Laxman Saraf
  • Ashutosh Sharma
  • Ashwini Bhide Deshpande
  • Baijnath Maharaj
  • Barry Godfray John
  • Begam Batool
  • Bharat Gupt
  • Bheru Singh Chouhan
  • Bhim Singh Bhavesh
  • Bhimawa Doddabalappa Shiilekyathara
  • Budhendra Kumar Jain
  • C S Vaidyanathan
  • Chaitram Deochand Pawar
  • Chandrakant Sheth (Posthumous)
  • Chandrakant Sompura
  • Chetan E Chitnis
  • David R Syiemlieh
  • Durga Charan Ranbir
  • Farooq Ahmad Mir
  • Ganeshwar Shastri Dravid
  • Gita Upadhyay
  • Gokul Chandra Das
  • Guruvayur Dorai
  • Harchandan Singh Bhatty
  • Hariman Sharma
  • Harjinder Singh Srinagar Wale
  • Harvinder Singh
  • Hassan Raghu
  • Hemant Kumar
  • Hriday Narayan Dixit
  • Hugh and Colleen Gantzer (Posthumous)
  • Inivalappil Mani Vijayan
  • Jagadish Joshila
  • Jaspinder Narula
  • Jonas Masetti
  • Joynacharan Bathari
  • Jumde Yomgam Gamlin
  • K. Damodaran
  • K L Krishna
  • K Omanakutty Amma
  • Kishore Kunal (Posthumous)
  • L Hangthing
  • Lakshmipathy Ramasubbaiyer
  • Lalit Kumar Mangotra
  • Lama Lobzang (Posthumous)
  • Libia Lobo Sardesai
  • M D Srinivas
  • Madugula Nagaphani Sarma
  • Mahabir Nayak
  • Mamata Shankar
  • Manda Krishna Madiga
  • Maruti Bhujangrao Chitampalli
  • Miriyala Apparao (Posthumous)
  • Nagendra Nath Roy
  • Narayan (Bhulai Bhai) (Posthumous)
  • Naren Gurung
  • Neerja Bhatla
  • Nirmala Devi
  • Nitin Nohria
  • Onkar Singh Pahwa
  • P Datchanamoorthy
  • Pandi Ram Mandavi
  • Parmar Lavjibhai Nagjibhai
  • Pawan Goenka
  • Prashanth Prakash
  • Pratibha Satpathy
  • Purisai Kannappa Sambandan
  • R Ashwin
  • R G Chandramogan
  • Radha Bahin Bhatt
  • Radhakrishnan Devasenapathy
  • Ramdarash Mishra
  • Ranendra Bhanu Majumdar
  • Ratan Kumar Parimoo
  • Reba Kanta Mahanta
  • Renthlei Lalrawna
  • Ricky Gyan Kej
  • Sajjan Bhajanka
  • Sally Holkar
  • Sant Ram Deswal
  • Satyapal Singh
  • Seeni Viswanathan
  • Sethuraman Panchanathan
  • Sheikha Shaikha Ali Al-Jaber Al-Sabah
  • Sheen Kaaf Nizam (Shiv Kishan Bissa)
  • Shyam Bihari Agrawal
  • Soniya Nityanand
  • Stephen Knapp
  • Subhash Khetulal Sharma
  • Suresh Harilal Soni
  • Surinder Kumar Vasal
  • Swami Pradiptananda (Kartik Maharaj)
  • Syed Ainu Hasan
  • Tejendra Narayan Majumdar
  • Thiyam Suryamukhi Devi
  • Tushar Durgeshbhai Shukla
  • Vadiraj Raghavendracharya Panchamukhi
  • Vasudeo Kamath
  • Velu Assaan
  • Venkappa Ambaji Sugatekar
  • Vijay Nityanand Surishwar Ji Maharaj
  • Vijayalakshmi Deshamane
  • Vilas Dangre
  • Vinayak Lohani

Note that “(Posthumous)” indicates the award was given posthumously.

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