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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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Delhi deploys 25,000 personnel, installs CCTV cameras ahead of CJP march

More than 25,000 police and paramilitary personnel have been deployed in Delhi ahead of the CJP’s planned protest march at Connaught Place. Authorities have also imposed restrictions and stepped up CCTV surveillance.

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Delhi has stepped up security ahead of a planned protest march by the Cockroach Janta Party (CJP), with more than 25,000 police and paramilitary personnel deployed and additional surveillance measures introduced in parts of the national capital.

The planned “Lehra Do Tiranga” march is scheduled to take place at Central Park in Connaught Place on Friday, October 16. Authorities have also imposed prohibitory orders in Connaught Place and surrounding areas as part of the security arrangements.

Security tightened across Connaught Place

The security arrangements include the deployment of police and paramilitary personnel, along with the installation of additional CCTV cameras at Central Park and Rajiv Chowk Metro Station.

Prohibitory orders have been imposed under Section 163 of the Bharatiya Nagarik Suraksha Sanhita (BNSS) in Connaught Place and nearby areas. Central Park is also scheduled to remain closed for two days, with authorities advising the public to avoid the area during the arrangements.

A high-level meeting chaired by Delhi Police Commissioner Anurag Kumar, attended by senior police officers, was held on Thursday to review preparations ahead of the planned demonstration.

Why CJP is planning the march

The CJP has called the march to protest the arrest of its leaders Saurav Das and Ashutosh Ranka and to demand the resignation of Chief Election Commissioner Gyanesh Kumar over alleged irregularities in voter rolls.

The party’s protest is centred on its allegations concerning the electoral roll revision process. These are the protesters’ claims and should not be treated as independently established findings.

With Jantar Mantar no longer designated as a protest site, Central Park in Connaught Place has emerged as the proposed location for the fresh demonstration. The protest has also received support from the Aam Aadmi Party and the All India Students’ Association, according to the report.

Traders raise concerns over business disruptions

The heightened security measures have also prompted concerns among traders in the area.

Traders at Palika Bazaar have expressed concern about disruptions during the festive season, pointing to losses associated with previous protests. The concerns reflect the potential impact of repeated demonstrations and security restrictions on commercial activity in central Delhi.

Delhi Police has said it will facilitate peaceful demonstrators selectively while maintaining public order and protecting property.

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Mallikarjun Kharge’s ‘Your Friends’ jab at Rahul Gandhi over congress exits

Congress president Mallikarjun Kharge took a dig at Rahul Gandhi after the Leader of the Opposition reportedly described former party leaders Jyotiraditya Scindia and Ghulam Nabi Azad as among those who had left the Congress.

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Congress president Mallikarjun Kharge made a pointed remark about former Congress leaders after Rahul Gandhi reportedly described some of those who left the party as people who had been driven by personal interests or fear. The exchange took place during an informal interaction involving young Congress workers, according to a report published on October 15.

Rahul Gandhi, the Leader of the Opposition in the Lok Sabha, reportedly referred to former Congress leaders Jyotiraditya Scindia and Ghulam Nabi Azad while discussing people who had left the party. Kharge responded with a quip that drew attention to Rahul Gandhi’s earlier association with the leaders.

What Rahul Gandhi said about leaders who left Congress

During the interaction, Rahul Gandhi reportedly said that the Congress was now left with committed workers, describing those who remained in the party as ‘babbar sher’ or lions. He alleged that people who were greedy or afraid had left, citing Scindia and Azad as examples.

His reported remarks referred to people who, he suggested, had left because of the attraction of positions and security or fear of investigative agencies such as the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI).

These were Rahul Gandhi’s political characterisations of the leaders who left the Congress, rather than independently established explanations for their departures.

Kharge’s response to Rahul Gandhi

Reacting to Rahul Gandhi’s account, Kharge remarked, “They were all your friends.”

The comment referred to the association Rahul Gandhi had previously shared with some of the leaders who later left the Congress. Rahul Gandhi responded by saying that his sister, Priyanka Gandhi Vadra, was present and knew that Scindia was not his friend.

He subsequently reflected on the difficulty of identifying friends and opponents in politics, saying that people who appear to be friends may not necessarily be so, and the reverse may also be true.

Why Jyotiraditya Scindia and Ghulam Nabi Azad were mentioned

Jyotiraditya Scindia left the Congress in 2020 and joined the Bharatiya Janata Party (BJP). His departure was followed by a political crisis in Madhya Pradesh that resulted in the fall of the Congress government led by Kamal Nath.

Ghulam Nabi Azad, a veteran Congress leader, resigned from the party in August 2022. In his resignation letter, he criticised Rahul Gandhi’s leadership and the functioning of the party’s internal decision-making process.

Both leaders subsequently became prominent examples in political discussions about senior figures leaving the Congress, although their reasons and circumstances differed.

Rahul Gandhi’s message to young Congress workers

The interaction also focused on protests and political mobilisation. Rahul Gandhi reportedly told young Congress workers that demonstrations and struggles were part of their political training and encouraged them to explore new and creative ways of protesting.

He also suggested holding protests at Jantar Mantar, according to the report.

Congress president Kharge and Priyanka Gandhi Vadra were present during the interaction. Rahul Gandhi also claimed that the government led by Prime Minister Narendra Modi was dependent on the next eight to 10 months, though the report did not establish this as an independently verified assessment.

The exchange between Kharge and Rahul Gandhi offered a glimpse into the Congress leadership’s informal discussions, while bringing the departures of Scindia and Azad back into the political conversation.

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Delhi Police offers 11-person limit for CJP’s Connaught Place protest

Delhi Police has offered to facilitate a group of 11 people at Central Park in Connaught Place for the Cockroach Janata Party’s October 16 protest, while warning that violations of prohibitory orders could invite legal action.

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CJP protest to continue

Delhi Police has proposed allowing a group of 11 people to carry the national flag and sing the national anthem at Central Park in Connaught Place on October 16, ahead of a protest called by the Cockroach Janata Party (CJP) over alleged electoral fraud.

The police said it could facilitate the group at a suitable place in the park, while appealing to the public not to join the proposed gathering in large numbers. The offer comes amid prohibitory orders in Connaught Place and adjoining areas under Section 163 of the Bharatiya Nagarik Suraksha Sanhita (BNSS).

CJP founder Abhijeet Dipke has called on people to assemble at Central Park at 5 pm on Friday with the national flag. The proposed demonstration, named “Lehra Do Tiranga”, follows the detention of CJP members Saurav Das and Ashutosh Ranka during an earlier protest.

Why Delhi Police proposed limiting the gathering

In its statement, Delhi Police cited the prevailing security and law-and-order situation in the area. It also referred to information from the New Delhi Municipal Council (NDMC) that Central Park would remain closed on October 16 and 17 for administrative reasons.

Deputy Commissioner of Police Neha Yadav said the NDMC had informed the police about the closure and had asked that no gathering be allowed near the park.

The police also cited representations from trader and market associations in Connaught Place and surrounding areas. According to the police, the associations had raised concerns about unlawful assemblies and their impact on businesses, particularly during the festive season.

Police warned that violations of Section 163 BNSS would invite appropriate legal action. It also stressed that the national flag must be displayed and carried, and the national anthem sung, in the prescribed manner with due respect and dignity.

Delhi High Court declines to stop CJP protest

The proposed gathering reached the Delhi High Court after a vendor sought intervention over concerns about disruption to businesses and public movement in Connaught Place.

On Thursday, the court declined to restrain the CJP from holding the protest. It recorded the police’s assurance that all possible measures under the law would be taken to regulate the gathering and maintain peace.

The petition was filed by a vendor at Palika Bazar in Connaught Place, who raised concerns about the potential impact of the demonstration on traders and others working in the area.

Additional Solicitor General Chetan Sharma, appearing for the authorities, told the court that steps had already been taken to regulate the proposed protest.

CJP’s protest call follows detention of party members

Dipke’s October 16 protest call follows earlier demonstrations over alleged electoral fraud. CJP members Saurav Das and Ashutosh Ranka are in jail on trespass charges after raising the national flag at Jantar Mantar earlier this week, according to the report.

The party has been protesting over alleged electoral fraud and has raised questions about the Election Commission.

Dipke has urged people to gather at Central Park with the national flag, arguing that raising the Tricolour should not be treated as a crime.

The police’s proposal to facilitate a group of 11 people came as the authorities sought to prevent a larger gathering at the site. The CJP’s response to the police’s offer was still awaited in the report published on October 15.

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