Popular Indian coffeehouse chain Café Coffee Day’s operator Coffee Day Global has been admitted for corporate insolvency by India’s National Company Law Tribunal, an&nbsp;Economic Times report said on Monday.

Coffee Day Global was admitted for insolvency proceedings based on a petition filed by IndusInd Bank. However, the Coffee Day Group has still not released an official statement on the matter.

Coffee Day Enterprises, which owns Coffee Day Global , was promoted by the late VG Siddhartha, who committed suicide in 2019. According to reports, his suicide note addressed to the board of directors and the Coffee Day family revealed he was under heavy debt burden.

The company’s recent annual report indicated that on March 31, 2022, its outstanding debt from IndusInd Bank stood at over $8 million.

Reports said that the company was dragged to the court after discussions between the Coffee Day Group and IndusInd Bank broke down.

Café Coffee Day, a subsidiary of Coffee Day Global Limited, was founded in 1996 by VG Siddhartha. With its headquarters in Bengaluru, Café Coffee Day has over 1,000 outlets across India. 
&nbsp;

Popular Indian coffeehouse chain Café Coffee Day’s operator Coffee Day Global has been admitted for corporate insolvency by India’s National Company Law Tribunal, an Economic Times report said on Monday.

Popular Indian coffeehouse chain Café Coffee Day’s operator Coffee Day Global has been admitted for corporate insolvency by India’s National Company Law Tribunal, an Economic Times report said on Monday. Coffee Day Global was admitted for insolvency proceedings based on a petition filed by IndusInd Bank. However, the Coffee Day Group has still not released an official statement on the matter. Coffee Day Enterprises, which owns Coffee Day Global , was promoted by the late VG Siddhartha, who committed suicide in 2019. According to reports, his suicide note addressed to the board of directors and the Coffee Day family revealed he was under heavy debt burden. The company’s recent annual report indicated that on March 31, 2022, its outstanding debt from IndusInd Bank stood at over $8 million. Reports said that the company was dragged to the court after discussions between the Coffee Day Group and IndusInd Bank broke down. Café Coffee Day, a subsidiary of Coffee Day Global Limited, was founded in 1996 by VG Siddhartha. With its headquarters in Bengaluru, Café Coffee Day has over 1,000 outlets across India.

Indian coffeehouse chain Café Coffee Day faces bankruptcy

In Pics | Five coffee chains better than Starbucks

An entity linked to the deceased founder of India`s Coffee Day Enterprises Ltd owed the coffee chain 35.35 billion rupees ($472.5 million), an investigation report released by the company showed on Friday.

Coffee Day founder V.G. Siddhartha was found dead in a river in southern India last July in an apparent suicide amid speculation that he was under intense financial strain.

The Bengaluru-headquartered company had then appointed an investigator to scrutinize its accounts and the circumstances leading to the statements made in a letter purportedly written by Siddhartha.

Mysore Amalgamated Coffee Estates Ltd, an entity linked separately to Siddhartha and involved in a business relationship with Coffee Day, owed Coffee Day $472 million as of July 31, 2019 - the day Siddhartha`s deceased body was found by authorities - the synopsis of the investigation report released by Coffee Day to stock exchanges showed on Friday.

About $360 million of that amount still needed to be addressed, the report said.

A significant portion of the amount may have been spent to buy back shares from private equity investors, repay loans and funding investments outside the scope of the investigation, the report said. As a result, the amounts may not be precise, it added.

Coffee Day, which also exports coffee, sells coffee-vending machines and houses a logistics business called Sical, currently had a debt of 32 billion rupees ($427.7 million), it said.

It is India`s largest coffee chain with more than 1,000 cafes that brew cappuccinos and lattes for India`s booming moneyed class, and competes with the likes of Starbucks Corp, Barista and Coca-Cola Co-owned Costa Coffee.

The company, whose revenue has taken a hit in the wake of the COVID-19 pandemic, is in the process of selling off more assets to raise cash and cut debt, it added.

An entity linked to the deceased founder of India`s Coffee Day Enterprises Ltd owed the coffee chain 35.35 billion rupees ($472.5 million), an investigation report released by the company showed on Friday.

An entity linked to the deceased founder of India`s Coffee Day Enterprises Ltd owed the coffee chain 35.35 billion rupees ($472.5 million), an investigation report released by the company showed on Friday. Coffee Day founder V.G. Siddhartha was found dead in a river in southern India last July in an apparent suicide amid speculation that he was under intense financial strain. The Bengaluru-headquartered company had then appointed an investigator to scrutinize its accounts and the circumstances leading to the statements made in a letter purportedly written by Siddhartha. Mysore Amalgamated Coffee Estates Ltd, an entity linked separately to Siddhartha and involved in a business relationship with Coffee Day, owed Coffee Day $472 million as of July 31, 2019 - the day Siddhartha`s deceased body was found by authorities - the synopsis of the investigation report released by Coffee Day to stock exchanges showed on Friday. About $360 million of that amount still needed to be addressed, the report said. A significant portion of the amount may have been spent to buy back shares from private equity investors, repay loans and funding investments outside the scope of the investigation, the report said. As a result, the amounts may not be precise, it added. Coffee Day, which also exports coffee, sells coffee-vending machines and houses a logistics business called Sical, currently had a debt of 32 billion rupees ($427.7 million), it said. It is India`s largest coffee chain with more than 1,000 cafes that brew cappuccinos and lattes for India`s booming moneyed class, and competes with the likes of Starbucks Corp, Barista and Coca-Cola Co-owned Costa Coffee. The company, whose revenue has taken a hit in the wake of the COVID-19 pandemic, is in the process of selling off more assets to raise cash and cut debt, it added.

Coffee Day owed $472 million by deceased founder's firm: Report

The primary postmortem report of Indian coffee baron and <a href="https://www.wionews.com/india-news/the-rise-and-fall-of-cafe-coffee-day-founder-vg-siddhartha-239854">founder of Cafe Coffee Day, VG Siddhartha</a>, confirms death due to drowning and has ruled out any foul play.&nbsp;

Wenlock district hospital in Mangalore filed the report on Friday mentioning the presence of water in Siddhartha, thereby indicating death due to drowning.

Watch: What led to the downfall of CCD founder VG Siddhartha

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/the-rise-fall-of-vg-siddhartha-239816/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Siddhartha was found dead in the Netravathi river in the coastal city of Mangalore on Wednesday. His body was found by fishermen at 6.30am near Hoige Bazaar, a short distance away from the bridge where he went missing.

Indian coffee baron was credited with the opening and expansion of the country's first coffee chain Cafe Coffee Day (CCD).

The very first outlet was opened at Bengaluru's Brigade Road in 1996. CCD was India's first food and beverages outlet in India to offer high-speed internet to its customers.

The 58-year-old businessman was the son-in-law of former Karnataka Chief Minister SM Krishna.

Union Minister of Parliamentary Affairs and BJP leader Pralhad Joshi had on Wednesday said that an inquiry will be conducted into Siddhartha's death.&nbsp;

The primary postmortem report of Indian coffee baron and founder of Cafe Coffee Day, VG Siddhartha, confirms death due to drowning and has ruled out any foul play.

The primary postmortem report of Indian coffee baron and founder of Cafe Coffee Day, VG Siddhartha, confirms death due to drowning and has ruled out any foul play. Wenlock district hospital in Mangalore filed the report on Friday mentioning the presence of water in Siddhartha, thereby indicating death due to drowning. Watch: What led to the downfall of CCD founder VG Siddhartha Siddhartha was found dead in the Netravathi river in the coastal city of Mangalore on Wednesday. His body was found by fishermen at 6.30am near Hoige Bazaar, a short distance away from the bridge where he went missing. Indian coffee baron was credited with the opening and expansion of the country's first coffee chain Cafe Coffee Day (CCD). The very first outlet was opened at Bengaluru's Brigade Road in 1996. CCD was India's first food and beverages outlet in India to offer high-speed internet to its customers. The 58-year-old businessman was the son-in-law of former Karnataka Chief Minister SM Krishna. Union Minister of Parliamentary Affairs and BJP leader Pralhad Joshi had on Wednesday said that an inquiry will be conducted into Siddhartha's death.

Cafe Coffee Day founder VG Siddhartha's primary postmortem report suggests death due to drowning, no foul play

The missing coffee baron from Karnataka and founder of Cafe Coffee Day, VG Siddhartha, was <a href="https://www.wionews.com/india-news/found-vg-siddharthas-body-floating-on-water-shifted-to-hospital-police-239607">found dead</a> in the Netravathi river in the coastal city of Mangalore early on Wednesday. Siddhartha's body was found by fishermen at 6.30am near Hoige Bazaar, a short distance away from the bridge where he went missing.

Siddhartha opened India's first coffee chain Cafe Coffee Day (CCD) and opened his first outlet at Bengaluru's Brigade Road in 1996. CCD was India's first food and beverages outlet in India to offer high-speed internet to its customers.

Siddhartha had famously said once that he was advised against setting up Cafe Coffee Day, that someone told him that the business won't be able to break even. But the first CCD outlet clicked and there was no looking back for Siddhartha.

He belonged to a family which has a history of growing coffee; in fact, it has been the family business for the last 140 years. After a short stint as an investment banker, he formed a coffee trading company called Amalgamated Bean Company (ABC). The ABC is India's biggest green coffee exporter with a turnover of Rs 2,500 crore.

<a href="https://www.wionews.com/india-news/i-have-failed-as-an-entrepreneur-said-ccd-founder-siddhartha-in-letter-report-239375">VG Siddhartha</a> decided to open his own chain of coffee outlets after noticing an internet cafe serving beer in Singapore.

CCD now has 1750 outlets in more than 200 cities, including Prague, Vienna and Kuala Lumpur. Around 30,000 employees work in the company.

The company had the first move advantage, before the other big coffee brands of the world like Starbucks and Costa Coffee entered India. This allowed CCD to venture into other territories like information technology and financial sector and eventually, Siddhartha lost the plot.

Watch: What led to the downfall of CCD founder VG Siddhartha

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/the-rise-fall-of-vg-siddhartha-239816/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

In 2017, he was accused of tax evasion and the income tax department raided 20 locations linked to him. It was alleged that he concealed income worth Rs 650 crore.

Siddhartha is believed to be under intense financial stress despite the CCD group's coffee business showing a positive growth trajectory. The company reported a revenue of Rs 1,777 crore in FY 2018, Rs 1,814 crore in FY '19 and is projected to grow at Rs 2,250 crore in FY '20. However, as of March 2019, the total debt of the company stood at Rs 6,547 crore.

Siddhartha has been in talks with selling stakes evaluated at Rs 8000-10,000 crore in the company to global beverage manufacturer Coca Cola. Sources also suggest that he was looking to sell the real estate subsidiary of the company, Tanglin, at an estimated Rs 2,800 crore. While Siddhartha earned Rs 3269 crore from selling his Mindtree shares, it barely made up for the heavy debt that he was under - details of many that are still not in public domain.

The missing coffee baron from Karnataka and founder of Cafe Coffee Day, VG Siddhartha, was found dead in the Netravathi river in the coastal city of Mangalore early on Wednesday.

The missing coffee baron from Karnataka and founder of Cafe Coffee Day, VG Siddhartha, was found dead in the Netravathi river in the coastal city of Mangalore early on Wednesday. Siddhartha's body was found by fishermen at 6.30am near Hoige Bazaar, a short distance away from the bridge where he went missing. Siddhartha opened India's first coffee chain Cafe Coffee Day (CCD) and opened his first outlet at Bengaluru's Brigade Road in 1996. CCD was India's first food and beverages outlet in India to offer high-speed internet to its customers. Siddhartha had famously said once that he was advised against setting up Cafe Coffee Day, that someone told him that the business won't be able to break even. But the first CCD outlet clicked and there was no looking back for Siddhartha. He belonged to a family which has a history of growing coffee; in fact, it has been the family business for the last 140 years. After a short stint as an investment banker, he formed a coffee trading company called Amalgamated Bean Company (ABC). The ABC is India's biggest green coffee exporter with a turnover of Rs 2,500 crore. VG Siddhartha decided to open his own chain of coffee outlets after noticing an internet cafe serving beer in Singapore. CCD now has 1750 outlets in more than 200 cities, including Prague, Vienna and Kuala Lumpur. Around 30,000 employees work in the company. The company had the first move advantage, before the other big coffee brands of the world like Starbucks and Costa Coffee entered India. This allowed CCD to venture into other territories like information technology and financial sector and eventually, Siddhartha lost the plot. Watch: What led to the downfall of CCD founder VG Siddhartha In 2017, he was accused of tax evasion and the income tax department raided 20 locations linked to him. It was alleged that he concealed income worth Rs 650 crore. Siddhartha is believed to be under intense financial stress despite the CCD group's coffee business showing a positive growth trajectory. The company reported a revenue of Rs 1,777 crore in FY 2018, Rs 1,814 crore in FY '19 and is projected to grow at Rs 2,250 crore in FY '20. However, as of March 2019, the total debt of the company stood at Rs 6,547 crore. Siddhartha has been in talks with selling stakes evaluated at Rs 8000-10,000 crore in the company to global beverage manufacturer Coca Cola. Sources also suggest that he was looking to sell the real estate subsidiary of the company, Tanglin, at an estimated Rs 2,800 crore. While Siddhartha earned Rs 3269 crore from selling his Mindtree shares, it barely made up for the heavy debt that he was under - details of many that are still not in public domain.

The rise and fall of Cafe Coffee Day founder VG Siddhartha

The board of Coffee Day Enterprises on Wednesday said it appointed SV Ranganath as the interim chairman of the board and Nitin Bagmane was named as interim chief operating officer.&nbsp;

Amid the shocking developments following the death of founder VG&nbsp;Siddhartha, the board of Coffee Day Enterprises met for more than two hours in Bengaluru.&nbsp;

A statement from the company said an executive committee comprising Ranganath, Bagmane and chief financial officer R. Ram Mohan has been constituted “to exercise the powers previously vested with the Chief Executive Officer of the company and the Administrative Committee constituted by the Board in 2015’’.

The board will, in due course, prepare a detailed charter of authorities vested in the executive committee and approve the same.&nbsp;

The company said its board has also taken note of a message from Malavika Hegde, expressing support and trust in the company's professional team and the common effort to look after the interest of the employees and all other stakeholders.&nbsp;

The board of Coffee Day Enterprises on Wednesday said it appointed SV Ranganath as the interim chairman of the board and Nitin Bagmane was named as interim chief operating officer.

The board of Coffee Day Enterprises on Wednesday said it appointed SV Ranganath as the interim chairman of the board and Nitin Bagmane was named as interim chief operating officer. Amid the shocking developments following the death of founder VG Siddhartha, the board of Coffee Day Enterprises met for more than two hours in Bengaluru. A statement from the company said an executive committee comprising Ranganath, Bagmane and chief financial officer R. Ram Mohan has been constituted “to exercise the powers previously vested with the Chief Executive Officer of the company and the Administrative Committee constituted by the Board in 2015’’. The board will, in due course, prepare a detailed charter of authorities vested in the executive committee and approve the same. The company said its board has also taken note of a message from Malavika Hegde, expressing support and trust in the company's professional team and the common effort to look after the interest of the employees and all other stakeholders.

Coffee Day Enterprises appoints interim chairman, chief operating officer

Body of Café Coffee Day founder VG Siddhartha was found on the banks of Netravati River near Hoige Bazaar in Mangaluru, Karnataka on Wednesday. The Karnataka-based businessman had gone missing on Monday night and was suspected to have jumped off the Ullal Bridge. Watch this video to know more.

The rise and fall of VG Siddhartha

Equity benchmark indices were lower again during early hours on Thursday tracking global cues as both US and Asian markets fell on less-than-expected dovish remarks from the US Fed Reserve.

At 10:15 am, the BSE S&amp;P Sensex was down 239 points at 37,243 while the Nifty 50 slipped 44 points to 11,042.

At the National Stock Exchange, all sectoral indices were in the red with Nifty metal down by 1.5 per cent and pharma by 1.2 per cent.

Among stocks, Coffee Day Enterprises plunged another 10 per cent for the third day in a row and traded at Rs 110.95 per share, a day after Cafe Coffee Day founder V G Siddhartha`s body was found near the Netravathi river in Mangaluru.

UPL was down by 5.4 per cent, Hindalco by 3.3 per cent, Vedanta by 3.2 per cent, JSW Steel by 2.1 per cent and HDFC by 1.9 per cent.

However, Wipro gained by 3.5 per cent and Bharti Infratel by 2.3 per cent.

Power Grid, IndusInd Bank and GAIL showed marginal gains.

Meanwhile, Asian shares fell to six-week lows as the US Federal Reserve cut interest rates by 25 basis points for the first time in a decade but signalled that this will not be a long chain of cuts.

MSCI`s broadest index of Asia-Pacific shares outside Japan faltered 0.6 per cent.

Japan`s Nikkei reversed early losses and were slightly higher. Losses in Chinese shares accelerated after it opened lower with the blue-chip index down 0.8 per cent.

Equity benchmark indices were lower again during early hours on Thursday tracking global cues as both US and Asian markets fell on less-than-expected dovish remarks from the US Fed Reserve.

Equity benchmark indices were lower again during early hours on Thursday tracking global cues as both US and Asian markets fell on less-than-expected dovish remarks from the US Fed Reserve. At 10:15 am, the BSE S&P Sensex was down 239 points at 37,243 while the Nifty 50 slipped 44 points to 11,042. At the National Stock Exchange, all sectoral indices were in the red with Nifty metal down by 1.5 per cent and pharma by 1.2 per cent. Among stocks, Coffee Day Enterprises plunged another 10 per cent for the third day in a row and traded at Rs 110.95 per share, a day after Cafe Coffee Day founder V G Siddhartha`s body was found near the Netravathi river in Mangaluru. UPL was down by 5.4 per cent, Hindalco by 3.3 per cent, Vedanta by 3.2 per cent, JSW Steel by 2.1 per cent and HDFC by 1.9 per cent. However, Wipro gained by 3.5 per cent and Bharti Infratel by 2.3 per cent. Power Grid, IndusInd Bank and GAIL showed marginal gains. Meanwhile, Asian shares fell to six-week lows as the US Federal Reserve cut interest rates by 25 basis points for the first time in a decade but signalled that this will not be a long chain of cuts. MSCI`s broadest index of Asia-Pacific shares outside Japan faltered 0.6 per cent. Japan`s Nikkei reversed early losses and were slightly higher. Losses in Chinese shares accelerated after it opened lower with the blue-chip index down 0.8 per cent.

Equity indices back in negative zone, Wipro and Bharti Infratel gain

The popular retail chain <a href="https://www.wionews.com/india-news/the-rise-and-fall-of-cafe-coffee-day-founder-vg-siddhartha-239854">Cafe Coffee Day (CCD) outlets</a> were reopened in Karnataka on Thursday after a two-day shut down across the state, in memory of its founder-owner VG Siddhartha.

The CCD outlets across the state were shut down on July 30 and July 31 following <a href="https://www.wionews.com/india-news/found-vg-siddharthas-body-floating-on-water-shifted-to-hospital-police-239607">VG Siddhartha`s demise</a>.

Manoj, a regular customer of CCD, Mangaluru told ANI: "I am so happy to know that the CCD outlets here have reopened again. As we all know something really bad happened and we all were shocked by the news of VG Siddhartha`s demise. I have been a customer of CCD since last 10 years. It`s so good to hear that their business will not stop and it will continue in future."

The news of <a href="https://www.wionews.com/business-economy/income-tax-department-refutes-v-g-siddharthas-allegation-of-harassment-says-he-accepted-holding-black-money-239527">CCD outlets</a> being reopened in Mangaluru, Karnataka, brought a smile on their customers` faces.

"It`s shocking to hear the news of VG Siddhartha`s demise who was a great entrepreneur. CCD`s tagline says, `A lot can happen over coffee` and a lot has happened to the customers. I am here for my business meeting today. CCD was shut for two days and now the outlets have finally reopened," Hera Pinto, another customer told ANI.

"We just hope this place runs successfully but it`s a huge loss to all the Coffee Day lovers," she added. Siddhartha`s body was found on Wednesday morning on the banks of Netravati river.&nbsp;

The 58-year-old businessman went missing since Monday evening from Mangaluru.

A massive search operation involving multiple teams of police forces along with the Coast Guard and NDRF was carried out to locate Siddhartha.&nbsp;

Police had also deployed the dog squads and inflatable boats in the search operation and roped in local fishermen to search the river.

&nbsp;The last rites of India`s `Coffee King` were held on Wednesday at one of his coffee estates in his village situated in Chikkamagaluru district of Karnataka.

The popular retail chain Cafe Coffee Day (CCD) outlets were reopened in Karnataka on Thursday after a two-day shut down across the state, in memory of its founder-owner VG Siddhartha.

The popular retail chain Cafe Coffee Day (CCD) outlets were reopened in Karnataka on Thursday after a two-day shut down across the state, in memory of its founder-owner VG Siddhartha. The CCD outlets across the state were shut down on July 30 and July 31 following VG Siddhartha`s demise. Manoj, a regular customer of CCD, Mangaluru told ANI: "I am so happy to know that the CCD outlets here have reopened again. As we all know something really bad happened and we all were shocked by the news of VG Siddhartha`s demise. I have been a customer of CCD since last 10 years. It`s so good to hear that their business will not stop and it will continue in future." The news of CCD outlets being reopened in Mangaluru, Karnataka, brought a smile on their customers` faces. "It`s shocking to hear the news of VG Siddhartha`s demise who was a great entrepreneur. CCD`s tagline says, `A lot can happen over coffee` and a lot has happened to the customers. I am here for my business meeting today. CCD was shut for two days and now the outlets have finally reopened," Hera Pinto, another customer told ANI. "We just hope this place runs successfully but it`s a huge loss to all the Coffee Day lovers," she added. Siddhartha`s body was found on Wednesday morning on the banks of Netravati river. The 58-year-old businessman went missing since Monday evening from Mangaluru. A massive search operation involving multiple teams of police forces along with the Coast Guard and NDRF was carried out to locate Siddhartha. Police had also deployed the dog squads and inflatable boats in the search operation and roped in local fishermen to search the river. The last rites of India`s `Coffee King` were held on Wednesday at one of his coffee estates in his village situated in Chikkamagaluru district of Karnataka.

Karnataka: CCD outlets reopen after two-day shut down

In the aftermath of Café Coffee Day founder V G Siddhartha’s death what refuses to go away is the abounding speculation over the trigger for his suicide. Was it the mountain of debt? Was it the taxman’s scrutiny that he was subject to? Was it his inability to cope with the stress of managing a big business empire and the bigger debt it inevitably involves? Or, was it a lethal combination of all three?

Whatever was the last straw that made Siddhartha take the extreme step and plunge to his death, there are good reasons for the government, the business community and other interested sections to know, understand and draw the correct conclusions. Doubtless, there would be lessons, too, to be learnt.

At the same time, to pick on particular officials and question them for the harassment alleged by Siddhartha would be unfair. There is no case whatsoever for such a course of action. In such cases, officials, particularly tax and enforcement officials, are damned if they do, and damned if they don’t. Diligently doing their duty risks the charge of harassment. Failure to go by the book can invite accusations of negligence or favouritism. &nbsp;And, it is easy to make a scapegoat of an official especially if the political class wants to.

Precisely for that reason, the political class must desist from giving in to the temptation of picking on an official unless there is direct culpability with proof of personal enmity or vendetta. In the absence of these, questioning an official for “harassment” in the vague sense would be a fishing expedition.

Therein lies a lesson for government officials: to discharge their duty, at all times, without fear or favour and shun political bias, influence or instruction.

(Disclaimer: WION Edit is the channel's take on the big events of the world)

In the aftermath of Café Coffee Day founder V G Siddhartha’s death what refuses to go away is the abounding speculation over the trigger for his suicide. Was it the mountain of debt?

In the aftermath of Café Coffee Day founder V G Siddhartha’s death what refuses to go away is the abounding speculation over the trigger for his suicide. Was it the mountain of debt? Was it the taxman’s scrutiny that he was subject to? Was it his inability to cope with the stress of managing a big business empire and the bigger debt it inevitably involves? Or, was it a lethal combination of all three? Whatever was the last straw that made Siddhartha take the extreme step and plunge to his death, there are good reasons for the government, the business community and other interested sections to know, understand and draw the correct conclusions. Doubtless, there would be lessons, too, to be learnt. At the same time, to pick on particular officials and question them for the harassment alleged by Siddhartha would be unfair. There is no case whatsoever for such a course of action. In such cases, officials, particularly tax and enforcement officials, are damned if they do, and damned if they don’t. Diligently doing their duty risks the charge of harassment. Failure to go by the book can invite accusations of negligence or favouritism. And, it is easy to make a scapegoat of an official especially if the political class wants to. Precisely for that reason, the political class must desist from giving in to the temptation of picking on an official unless there is direct culpability with proof of personal enmity or vendetta. In the absence of these, questioning an official for “harassment” in the vague sense would be a fishing expedition. Therein lies a lesson for government officials: to discharge their duty, at all times, without fear or favour and shun political bias, influence or instruction. (Disclaimer: WION Edit is the channel's take on the big events of the world)

WION Edit: Let officials do their job without fear or favour

Condolences pour in for <a href="https://www.wionews.com/india-news/found-vg-siddharthas-body-floating-on-water-shifted-to-hospital-police-239607">Coffee King VG Siddhartha</a> after his body was found on the banks of Netravati River near Hoige Bazaar in Mangaluru by local fisherman on Wednesday.

The <a href="https://www.wionews.com/india-news/ccd-founder-missing-signature-on-note-does-not-tally-with-siddharthas-signature-in-annual-reports-says-i-t-department-239586">58-year-old businessman </a>is the son-in-law of former Karnataka Chief Minister SM Krishna and was missing since Monday evening from Mangaluru.

Former Karnataka chief minister Sidaramaiah called his death "disturbing and mysterious" and asked for an "impartial and fair investigation" into his death.

Siddaramaiah said, "The death of V G Siddhartha is both disturbing and mysterious. The reasons and the invisible hands that ended his life in this tragic way should be unearthed through impartial and fair investigation."

"Our party and I shall always stand with Shri. S M Krishna in their fight for justice. The letter supposed to have written by V G Siddhartha few days before his death has discussed about tax terrorism, which is an ugly face of politically motivated institutions."

"What signals are we sending to the budding entrepreneurs without even an attempt to reform?"

Congress leader Milind Deora tweeted, "Saddened by #VGSiddhartha’s untimely death. My condolences to team @CafeCoffeeDay &amp; Siddharth’s family."

"Siddharth’s letter must be investigated. Risk &amp; failure are an integral part of the entrepreneurial story. Suicide isn’t. Hope govt reflects on its anti-business policies!"

Deputy chief minister of Karnataka Dr. G Parameshwara tweeted, " The news is unthinkable. My deepest condolences to Shri SM Krishna and other family members that #VGSiddhartha has left behind. This is a huge loss to our entrepreneurial fraternity! His dream #CafeCoffeeDay will live with us forever."

Fugitive businessman Vijay Mallya also reacted to the news saying he was devastated with the contents of the letter. Blaming the government agencies and bank, Mallya said, "The Govt Agencies and Banks can drive anyone to despair. See what they are doing to me despite offer of full repayment. Vicious and unrelenting."

"I am indirectly related to VG Siddhartha. Excellent human and brilliant entrepreneur. I am devastated with the contents of his letter. The Govt Agencies and Banks can drive anyone to despair. See what they are doing to me despite offer of full repayment. Vicious and unrelenting.

In Western Countries, Government and Banks help borrowers repay their debts. In my case they are obstructing every possible effort for me to repay my debt whilst competing for my assets. As far as the prima facie criminal case goes wait for the appeal granted.

Condolences pour in for Coffee King VG Siddhartha after his body was found on the banks of Netravati River near Hoige Bazaar in Mangaluru by local fisherman on Wednesday.

Condolences pour in for Coffee King VG Siddhartha after his body was found on the banks of Netravati River near Hoige Bazaar in Mangaluru by local fisherman on Wednesday. The 58-year-old businessman is the son-in-law of former Karnataka Chief Minister SM Krishna and was missing since Monday evening from Mangaluru. Former Karnataka chief minister Sidaramaiah called his death "disturbing and mysterious" and asked for an "impartial and fair investigation" into his death. Siddaramaiah said, "The death of V G Siddhartha is both disturbing and mysterious. The reasons and the invisible hands that ended his life in this tragic way should be unearthed through impartial and fair investigation." "Our party and I shall always stand with Shri. S M Krishna in their fight for justice. The letter supposed to have written by V G Siddhartha few days before his death has discussed about tax terrorism, which is an ugly face of politically motivated institutions." "What signals are we sending to the budding entrepreneurs without even an attempt to reform?" Congress leader Milind Deora tweeted, "Saddened by #VGSiddhartha’s untimely death. My condolences to team @CafeCoffeeDay & Siddharth’s family." "Siddharth’s letter must be investigated. Risk & failure are an integral part of the entrepreneurial story. Suicide isn’t. Hope govt reflects on its anti-business policies!" Deputy chief minister of Karnataka Dr. G Parameshwara tweeted, " The news is unthinkable. My deepest condolences to Shri SM Krishna and other family members that #VGSiddhartha has left behind. This is a huge loss to our entrepreneurial fraternity! His dream #CafeCoffeeDay will live with us forever." Fugitive businessman Vijay Mallya also reacted to the news saying he was devastated with the contents of the letter. Blaming the government agencies and bank, Mallya said, "The Govt Agencies and Banks can drive anyone to despair. See what they are doing to me despite offer of full repayment. Vicious and unrelenting." "I am indirectly related to VG Siddhartha. Excellent human and brilliant entrepreneur. I am devastated with the contents of his letter. The Govt Agencies and Banks can drive anyone to despair. See what they are doing to me despite offer of full repayment. Vicious and unrelenting. In Western Countries, Government and Banks help borrowers repay their debts. In my case they are obstructing every possible effort for me to repay my debt whilst competing for my assets. As far as the prima facie criminal case goes wait for the appeal granted.

Govt Agencies and Banks can drive anyone to despair, tweets Vijay Mallya on VG Siddhartha's death

Equity benchmark indices were lower again during early hours on Wednesday with weak cues from global markets as investors awaiting the US Federal Reserve`s announcement on interest rates later today.

At 10:15 am, the BSE S&amp;P Sensex was down 120 points at 37,277 while the Nifty 50 slipped 44 points to 11,042.&nbsp;

At the National Stock Exchange, sectoral indices were mixed with Nifty IT and realty dropping by 1.2 per cent while PSU banks gained over 1 per cent.

Among stocks, Coffee Day Enterprises hit 20 per cent lower circuit for the second day to hit a 52-week low and traded at Rs 123.25 per share after Cafe Coffee Day founder V G Siddhartha`s body was found near the Netravathi river in Mangaluru.

IT majors too suffered from Tech Mahindra dropping by 3.6 per cent, HCL Tech by 1.1 per cent and Infosys by 1.08 per cent.&nbsp;

Axis Bank edged lower by 3.1 per cent, Britannia by 2 per cent, UltraTech Cement by 1.3 per cent and Titan by 1.1 per cent.However, Yes Bank gained over 4 per cent and IndusInd Bank by 3.7 per cent.&nbsp;

Sun Pharma, Indiabulls Housing Finance and JSW Steel showed gains of 2 to 2.5 per cent each.

Meanwhile, Asian indices were weak led by the Japanese Nikkei as profit booking was witnessed after US President Donald Trump lashed out at China before talks began on trade tariffs in Shanghai.

Hong Kong shares slid as investors mulled pessimistic signs amid a mixed set of corporate earnings ahead of the US Federal Reserve`s long-awaited interest rate cut.&nbsp;

Equity benchmark indices were lower again during early hours on Wednesday with weak cues from global markets as investors awaiting the US Federal Reserve`s announcement on interest rates later today.

Equity benchmark indices were lower again during early hours on Wednesday with weak cues from global markets as investors awaiting the US Federal Reserve`s announcement on interest rates later today. At 10:15 am, the BSE S&P Sensex was down 120 points at 37,277 while the Nifty 50 slipped 44 points to 11,042. At the National Stock Exchange, sectoral indices were mixed with Nifty IT and realty dropping by 1.2 per cent while PSU banks gained over 1 per cent. Among stocks, Coffee Day Enterprises hit 20 per cent lower circuit for the second day to hit a 52-week low and traded at Rs 123.25 per share after Cafe Coffee Day founder V G Siddhartha`s body was found near the Netravathi river in Mangaluru. IT majors too suffered from Tech Mahindra dropping by 3.6 per cent, HCL Tech by 1.1 per cent and Infosys by 1.08 per cent. Axis Bank edged lower by 3.1 per cent, Britannia by 2 per cent, UltraTech Cement by 1.3 per cent and Titan by 1.1 per cent.However, Yes Bank gained over 4 per cent and IndusInd Bank by 3.7 per cent. Sun Pharma, Indiabulls Housing Finance and JSW Steel showed gains of 2 to 2.5 per cent each. Meanwhile, Asian indices were weak led by the Japanese Nikkei as profit booking was witnessed after US President Donald Trump lashed out at China before talks began on trade tariffs in Shanghai. Hong Kong shares slid as investors mulled pessimistic signs amid a mixed set of corporate earnings ahead of the US Federal Reserve`s long-awaited interest rate cut.

Nifty sinks below 11,100 mark, Coffee Day plunges by another 20 per cent

CCD founder VG Siddhartha's body taken to hospital for post mortem

<a href="https://www.wionews.com/india-news/ccd-founder-siddharthas-found-on-the-banks-of-netravati-river-in-mangaluru-239587">CCD founder Siddhartha's body found on the banks of Netravati River in Mangaluru</a>

The body of VG Siddhartha, founder of&nbsp;Café Coffee Day&nbsp;and son-in-law of former CM SM Krishna, has been found two days after he went missing, &nbsp;reported news agency ANI.

<a href="https://www.wionews.com/world/ahead-of-south-korea-us-military-drill-north-korea-fires-two-short-range-ballistic-missiles-239579">Ahead of South Korea, US military drill, North Korea fires two short-range ballistic missiles</a>

North Korea fired two short-range ballistic missiles early on Wednesday, the South Korean military said, only days after it&nbsp;<a href="https://www.wionews.com/world/north-korea-says-new-missile-a-solemn-warning-to-south-korean-warmongers-238512">launched two other missiles</a>intended to pressure South Korea and the United States to stop upcoming military drills.

<a href="https://www.wionews.com/world/chinese-province-considers-three-child-policy-to-halt-population-decline-239580">Chinese province considers 'three-child policy' to halt population decline</a>

China`s northeastern province of Liaoning is planning to loosen birth restrictions and allow some couples to have a third child in a bid to improve dwindling fertility rates and stop its workforce from declining.

<a href="https://www.wionews.com/business-economy/want-to-make-high-end-computers-in-us-need-tariff-relief-apple-ceo-tim-cook-239585">Want to make high end computers in US, need tariff relief: Apple CEO Tim Cook</a>

Apple CEO Tim Cook on Tuesday said that the desire to keep&nbsp;Mac Pro computer production&nbsp;in United States was behind the company's recent request for tariff exclusions.

<a href="https://www.wionews.com/india-news/ccd-founder-missing-signature-on-note-does-not-tally-with-siddharthas-signature-in-annual-reports-says-i-t-department-239586">CCD founder dead: Signature on note does not tally with Siddhartha's signature in annual reports, says I-T Department</a>

The authenticity of the note allegedly written by founder-owner of Cafe Coffee Day (CCD) V G Siddhartha, who is missing since Monday, is not known and the signature on it does not match with Siddhartha`s signature as available in his annual reports, said the Income Tax (I-T) Department on Tuesday.

CCD founder Siddhartha's body found on the banks of Netravati River in Mangaluru The body of VG Siddhartha, founder of Café Coffee Day and son-in-law of former CM SM Krishna, has been found two days after he went missing, reported news agency ANI.

CCD founder Siddhartha's body found on the banks of Netravati River in Mangaluru The body of VG Siddhartha, founder of Café Coffee Day and son-in-law of former CM SM Krishna, has been found two days after he went missing, reported news agency ANI. Ahead of South Korea, US military drill, North Korea fires two short-range ballistic missiles North Korea fired two short-range ballistic missiles early on Wednesday, the South Korean military said, only days after it launched two other missilesintended to pressure South Korea and the United States to stop upcoming military drills. Chinese province considers 'three-child policy' to halt population decline China`s northeastern province of Liaoning is planning to loosen birth restrictions and allow some couples to have a third child in a bid to improve dwindling fertility rates and stop its workforce from declining. Want to make high end computers in US, need tariff relief: Apple CEO Tim Cook Apple CEO Tim Cook on Tuesday said that the desire to keep Mac Pro computer production in United States was behind the company's recent request for tariff exclusions. CCD founder dead: Signature on note does not tally with Siddhartha's signature in annual reports, says I-T Department The authenticity of the note allegedly written by founder-owner of Cafe Coffee Day (CCD) V G Siddhartha, who is missing since Monday, is not known and the signature on it does not match with Siddhartha`s signature as available in his annual reports, said the Income Tax (I-T) Department on Tuesday.

News brief: Big stories of the day

The authenticity of the note allegedly written by founder-owner of Cafe Coffee Day (CCD) V G Siddhartha, who is missing since Monday, is not known and the signature on it does not match with Siddhartha`s signature as available in his annual reports, said the Income Tax (I-T) Department on Tuesday.

I-T Department further said the investigation in the case of Siddhartha and <a href="https://www.wionews.com/india-news/ccd-founder-siddharthas-found-on-the-banks-of-netravati-river-in-mangaluru-239587">Cafe Coffee Day</a> arose from search in the case of a prominent political leader of Karnataka. It's based on the unearthing of credible evidence of financial transactions done by CCD in a concealed manner, the I-T Department added.

Meanwhile, fugitive liquor baron tweeting on the issue said described Siddhartha as e<a href="https://www.wionews.com/india-news/i-have-failed-as-an-entrepreneur-said-ccd-founder-siddhartha-in-letter-report-239375">xcellent human</a> and brilliant entrepreneur.

''I am indirectly related to VG Siddhartha. Excellent human and brilliant entrepreneur. I am devastated with the contents of his letter,'' Mallya said.

''The Govt Agencies and Banks can drive anyone to despair. See what they are doing to me despite offer of full repayment. Vicious and unrelenting,'' he added.

''In Western Countries, Government and Banks help borrowers repay their debts. In my case they are obstructing every possible effort for me to repay my debt whilst competing for my assets. As far as the prima facie criminal case goes wait for the appeal granted,'' he said in another tweet.

The authenticity of the note allegedly written by founder-owner of Cafe Coffee Day (CCD) V G Siddhartha, who is missing since Monday, is not known and the signature on it does not match with Siddhartha`s signature as available in his annual reports, said the Income Tax (I-T) Department on Tuesday.

The authenticity of the note allegedly written by founder-owner of Cafe Coffee Day (CCD) V G Siddhartha, who is missing since Monday, is not known and the signature on it does not match with Siddhartha`s signature as available in his annual reports, said the Income Tax (I-T) Department on Tuesday. I-T Department further said the investigation in the case of Siddhartha and Cafe Coffee Day arose from search in the case of a prominent political leader of Karnataka. It's based on the unearthing of credible evidence of financial transactions done by CCD in a concealed manner, the I-T Department added. Meanwhile, fugitive liquor baron tweeting on the issue said described Siddhartha as excellent human and brilliant entrepreneur. ''I am indirectly related to VG Siddhartha. Excellent human and brilliant entrepreneur. I am devastated with the contents of his letter,'' Mallya said. ''The Govt Agencies and Banks can drive anyone to despair. See what they are doing to me despite offer of full repayment. Vicious and unrelenting,'' he added. ''In Western Countries, Government and Banks help borrowers repay their debts. In my case they are obstructing every possible effort for me to repay my debt whilst competing for my assets. As far as the prima facie criminal case goes wait for the appeal granted,'' he said in another tweet.

CCD founder dead: Signature on note does not tally with Siddhartha's signature in annual reports, says I-T Department

Body of Café Coffee Day founder VG Siddhartha retrieved from river

Breaking News: Café Coffee Day founder VG Siddhartha's body found

Body of Café Coffee Day founder VG Siddhartha was found on the banks of Netravati River near Hoige Bazaar in Mangaluru, Karnataka on Wednesday. The Karnataka-based businessman had gone missing on Monday night and was suspected to have jumped off the Ullal Bridge. The last rites will take place at Siddhartha's native place Chikmangaluru. Watch this video to know more.

CCD founder VG Siddhartha's last rites to take place in Chikmagalur

Cafe Coffee Day (CCD) founder <a href="https://www.wionews.com/india-news/cafe-coffee-day-founder-vg-siddhartha-gone-missing-near-netravati-river-in-mangaluru-239351">VG Siddhartha has been missing</a> since Monday night, reports said. He went missing near Netravati river in Mangaluru, reports added.

A letter&nbsp;written by Siddhartha to board member and his employees&nbsp;surfaced on Tuesday saying, ''I have failed as an entrepreneur.''

''After 37 years, with strong commitment to hard work, having directly created 30,000 jobs in our companies and their subsidiaries. I have failed to create the right profitable business model despite my best efforts,'' Siddhartha wrote in the letter.

''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,'' Siddhartha further wrote.

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Founder &amp; owner, Cafe Coffee Day (CCD), <a href="https://twitter.com/hashtag/VGSiddhartha?src=hash&amp;ref_src=twsrc%5Etfw">#VGSiddhartha</a>'s letter to employees and board of directors of CCD, states, "Every financial transaction is my responsibility...the law should hold me &amp; only me accountable."; He has gone missing from Mangaluru, search operation underway. <a href="https://t.co/0GJc5vmvYt">pic.twitter.com/0GJc5vmvYt</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1156056347328294913?ref_src=twsrc%5Etfw">July 30, 2019</a></blockquote>
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Meanwhile, Coffee Day Enterprises shares went down 20 per cent in the early trade on Monday morning after the news of Siddhartha going missing went viral.

Basavaraj who was driving Siddhartha in Innova car before he went missing said, "I have been working for him for the past three years. On Monday I reported for duty from his residence at 8 am and drove him to his Vittal Mallya office and returned home at 11 am. At 12:30 he asked me to drive towards Sakleshpur and then later he asked me to drive to towards Mangalore and just before we were about to enter the Mangalore circle, he asked me to take a left because he wanted to visit some site."

"When we reached the Kerala highway, he asked me to stop at the bridge and drop him there. I was told to wait on the other end. At 8 pm I called him but his phone was switched off. Then I called up his son, who also tried calling him. I later filed a complaint after we couldn't trace him", the driver added.

The search operation is underway near Netravati river with inflatable boats being used to search the river.

Mangaluru Police Commissioner, Sandeep Patil said: ''Boat service and help of local fishermen being taken to conduct search operation in the Indravati river. We are checking with whom all he spoke last.''

After the news went viral, many people gathered outside the former chief minister's house in Bengaluru.

Karnataka chief minister BS Yediyurappa, Congress leader DK Shivakumar and BL Shankar visited SM Krishna at his residence early morning on Tuesday.

Cafe Coffee Day (CCD) founder VG Siddhartha has been missing since Monday night, reports said. He went missing near Netravati river in Mangaluru, reports added. A letter written by Siddhartha to board member and his employees surfaced on Tuesday saying, ''I have failed as an entrepreneur.

Cafe Coffee Day (CCD) founder VG Siddhartha has been missing since Monday night, reports said. He went missing near Netravati river in Mangaluru, reports added. A letter written by Siddhartha to board member and his employees surfaced on Tuesday saying, ''I have failed as an entrepreneur.'' ''After 37 years, with strong commitment to hard work, having directly created 30,000 jobs in our companies and their subsidiaries. I have failed to create the right profitable business model despite my best efforts,'' Siddhartha wrote in the letter. ''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,'' Siddhartha further wrote. Founder & owner, Cafe Coffee Day (CCD), #VGSiddhartha's letter to employees and board of directors of CCD, states, "Every financial transaction is my responsibility...the law should hold me & only me accountable."; He has gone missing from Mangaluru, search operation underway. pic.twitter.com/0GJc5vmvYt — ANI (@ANI) July 30, 2019 × Meanwhile, Coffee Day Enterprises shares went down 20 per cent in the early trade on Monday morning after the news of Siddhartha going missing went viral. Basavaraj who was driving Siddhartha in Innova car before he went missing said, "I have been working for him for the past three years. On Monday I reported for duty from his residence at 8 am and drove him to his Vittal Mallya office and returned home at 11 am. At 12:30 he asked me to drive towards Sakleshpur and then later he asked me to drive to towards Mangalore and just before we were about to enter the Mangalore circle, he asked me to take a left because he wanted to visit some site." "When we reached the Kerala highway, he asked me to stop at the bridge and drop him there. I was told to wait on the other end. At 8 pm I called him but his phone was switched off. Then I called up his son, who also tried calling him. I later filed a complaint after we couldn't trace him", the driver added. The search operation is underway near Netravati river with inflatable boats being used to search the river. Mangaluru Police Commissioner, Sandeep Patil said: ''Boat service and help of local fishermen being taken to conduct search operation in the Indravati river. We are checking with whom all he spoke last.'' After the news went viral, many people gathered outside the former chief minister's house in Bengaluru. Karnataka chief minister BS Yediyurappa, Congress leader DK Shivakumar and BL Shankar visited SM Krishna at his residence early morning on Tuesday.

I have failed as an entrepreneur, said CCD founder Siddhartha in letter

Indian shares reversed course to end lower on Tuesday, dragged by heavyweight Reliance Industries Ltd and banking stocks, as weak earnings continued to dampen investor sentiment.

The broader NSE Nifty ended 0.93% down at 11,085.40, its lowest close since March 8, while the benchmark BSE Sensex closed 0.77% lower at 37,397.24.

The volatility index had jumped 4.21% at the day's close.

Reliance Industries, one of India's most valuable companies, dragged markets the most as the stock was 2.4% down at closing bell.&nbsp;

The Nifty Auto index, which was higher initially, ended at 2.14% lower, its lowest level in over five years. Reuters reported on Monday the country's largest lender State Bank of India proposed to tighten lending terms to auto dealers.

SBI's shares were also 4.7% lower at the time of close, which along with most other bank stocks dragged the Nifty Bank index that ended 1.72% lower.

Cafe chain operator <a href="https://www.google.com/url?client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/india-news/cafe-coffee-day-founder-vg-siddhartha-gone-missing-near-netravati-river-in-mangaluru-239351&amp;sa=U&amp;ved=2ahUKEwiKlpP00dzjAhXq73MBHYzNCpMQFjACegQIARAC&amp;usg=AOvVaw1pO-vcCQkeCFUXznODU8qD">Coffee Day Enterprises</a> ended 20% down after its founder went missing, while reports alleged he wrote a letter saying he was under pressure from lenders.

Among gainers, Tata Consultancy Services' shares were up 2.2%, while Bharti Airtel ended about 4% higher.

Indian shares reversed course to end lower on Tuesday, dragged by heavyweight Reliance Industries Ltd and banking stocks, as weak earnings continued to dampen investor sentiment.

Indian shares reversed course to end lower on Tuesday, dragged by heavyweight Reliance Industries Ltd and banking stocks, as weak earnings continued to dampen investor sentiment. The broader NSE Nifty ended 0.93% down at 11,085.40, its lowest close since March 8, while the benchmark BSE Sensex closed 0.77% lower at 37,397.24. The volatility index had jumped 4.21% at the day's close. Reliance Industries, one of India's most valuable companies, dragged markets the most as the stock was 2.4% down at closing bell. The Nifty Auto index, which was higher initially, ended at 2.14% lower, its lowest level in over five years. Reuters reported on Monday the country's largest lender State Bank of India proposed to tighten lending terms to auto dealers. SBI's shares were also 4.7% lower at the time of close, which along with most other bank stocks dragged the Nifty Bank index that ended 1.72% lower. Cafe chain operator Coffee Day Enterprises ended 20% down after its founder went missing, while reports alleged he wrote a letter saying he was under pressure from lenders. Among gainers, Tata Consultancy Services' shares were up 2.2%, while Bharti Airtel ended about 4% higher.

Sensex, Nifty reverse course to close lower; Reliance Industries, banks drag

VG Siddhartha, the founder-owner of Cafe Coffee Day(CCD) chain and son-in-law of former Karnataka chief minister SM Krishna&nbsp;has been missing since Monday night, reports said.

Siddharta went missing near Netravati river in Mangaluru, reports added.

According to reports, the driver informed Siddhartha's family that he got off the car on the bridge and when he didn't return after some time, the driver went looking for him but he was nowhere to be found.

The search operation is underway near Netravati river with&nbsp;inflatable boats being used to search the river.

Mangaluru Police Commissioner, Sandeep Patil said, ''Boat service and help of local fishermen being taken to conduct search operation in the Indravati river. We are checking with whom all he spoke last.''

After the news went viral, many people gathered outside the former chief minister's house in Bengaluru.

Karnataka chief minister BS Yediyurappa, Congress leader DK Shivakumar and BL Shankar visited SM Krishna at his residence early morning on Tuesday.

VG Siddhartha, the founder-owner of Cafe Coffee Day(CCD) chain and son-in-law of former Karnataka chief minister SM Krishna has been missing since Monday night, reports said.

VG Siddhartha, the founder-owner of Cafe Coffee Day(CCD) chain and son-in-law of former Karnataka chief minister SM Krishna has been missing since Monday night, reports said. Siddharta went missing near Netravati river in Mangaluru, reports added. According to reports, the driver informed Siddhartha's family that he got off the car on the bridge and when he didn't return after some time, the driver went looking for him but he was nowhere to be found. The search operation is underway near Netravati river with inflatable boats being used to search the river. Mangaluru Police Commissioner, Sandeep Patil said, ''Boat service and help of local fishermen being taken to conduct search operation in the Indravati river. We are checking with whom all he spoke last.'' After the news went viral, many people gathered outside the former chief minister's house in Bengaluru. Karnataka chief minister BS Yediyurappa, Congress leader DK Shivakumar and BL Shankar visited SM Krishna at his residence early morning on Tuesday.

Cafe Coffee Day founder VG Siddhartha goes missing near river in Mangaluru

Mindtree Ltd's shares fell in early trade Tuesday after Larsen &amp; Toubro Ltd (L&amp;T) said it would buy a 20.32 percent stake in the IT services company for about Rs 3,300 crore.&nbsp;

L&amp;T will buy the stake from Indian coffee baron and Cafe Coffee Day owner VG Siddhartha, the construction company said late on Monday.

The Mumbai-based L&amp;T also placed an order with its broker for an on-market purchase of up to 15 percent of Mindtree's shares at 980 rupees each. It is also looking to buy an additional 31 percent from Mindtree's public shareholders at the same price.

L&amp;T stock was on Tuesday trading 1.2 percent lower in the Mumbai market that gained 0.2 percent.

Mindtree's promoters meanwhile released a statement saying L&amp;T's "hostile takeover bid" was "a grave threat" to their "unique organisation".&nbsp;

"The attempted hostile takeover bid of Mindtree by L&amp;T is a grave threat to the unique organisation we have collectively built over 20 years," the statement read.&nbsp;

The statement was issued collectively by Mindtree's Executive Chairman Krishnakumar Natarajan, co-founder Subroto Bagchi, Chief Executive Rostow Ravanan and Executive Vice-Chairman Parthasarathy NS.

"A hostile takeover by L&amp;T, unprecedented in our industry, could undo all of the progress we've made and immensely set our organisation back," the statement said.&nbsp;

"We believe that culture needs to be carefully created and nurtured over time, and can't be bought and sold like any asset," the statement added.&nbsp;

Mindtree meanwhile added that it would continue to oppose the attempted takeover in the interest of its shareholders and employees.

Mindtrees's employees seem to feel the same way, saying the culture of their organisation is unique and that it should be left that way.&nbsp;

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Culture and values set us apart and L&amp;T could potential destroy the fabric of it <a href="https://twitter.com/hashtag/mindtreematters?src=hash&amp;ref_src=twsrc%5Etfw">#mindtreematters</a> <a href="https://t.co/tFCfbNvQYk">https://t.co/tFCfbNvQYk</a>
— Gautham Gopalkrishna (@gauths_g) <a href="https://twitter.com/gauths_g/status/1107614425463357441?ref_src=twsrc%5Etfw">March 18, 2019</a></blockquote>
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Mindtree is one and only best company i have been with. the culture of mindtree is very unique. Mindtree is not a work place for me. its my Home and home is never for sale.<a href="https://twitter.com/hashtag/MindtreeMatters?src=hash&amp;ref_src=twsrc%5Etfw">#MindtreeMatters</a> <a href="https://twitter.com/Mindtree_Ltd?ref_src=twsrc%5Etfw">@Mindtree_Ltd</a>
— Anjan (@anjan_27) <a href="https://twitter.com/anjan_27/status/1107578653448142848?ref_src=twsrc%5Etfw">March 18, 2019</a></blockquote>
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Sustaining a good work culture matters.. 
Working with good people matters.. 
Loving what you do everyday matters.. 
Having Leaders who care, matters.. 
After having experienced all these things for just 2 years in Mindtree, I can proudly say <a href="https://twitter.com/hashtag/MindtreeMatters?src=hash&amp;ref_src=twsrc%5Etfw">#MindtreeMatters</a> 
And it always will! :)
— Elita D'souza (@elita_3094) <a href="https://twitter.com/elita_3094/status/1107613709197668352?ref_src=twsrc%5Etfw">March 18, 2019</a></blockquote>
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A number of them said on social media that Mindtree was like a "home" to them and a home is never for sale.&nbsp;

Mindtree Ltd's shares fell in early trade Tuesday after Larsen & Toubro Ltd (L&T) said it would buy a 20.32 percent stake in the IT services company for about Rs 3,300 crore.

Mindtree Ltd's shares fell in early trade Tuesday after Larsen & Toubro Ltd (L&T) said it would buy a 20.32 percent stake in the IT services company for about Rs 3,300 crore. L&T will buy the stake from Indian coffee baron and Cafe Coffee Day owner VG Siddhartha, the construction company said late on Monday. The Mumbai-based L&T also placed an order with its broker for an on-market purchase of up to 15 percent of Mindtree's shares at 980 rupees each. It is also looking to buy an additional 31 percent from Mindtree's public shareholders at the same price. L&T stock was on Tuesday trading 1.2 percent lower in the Mumbai market that gained 0.2 percent. Mindtree's promoters meanwhile released a statement saying L&T's "hostile takeover bid" was "a grave threat" to their "unique organisation". "The attempted hostile takeover bid of Mindtree by L&T is a grave threat to the unique organisation we have collectively built over 20 years," the statement read. The statement was issued collectively by Mindtree's Executive Chairman Krishnakumar Natarajan, co-founder Subroto Bagchi, Chief Executive Rostow Ravanan and Executive Vice-Chairman Parthasarathy NS. "A hostile takeover by L&T, unprecedented in our industry, could undo all of the progress we've made and immensely set our organisation back," the statement said. "We believe that culture needs to be carefully created and nurtured over time, and can't be bought and sold like any asset," the statement added. Mindtree meanwhile added that it would continue to oppose the attempted takeover in the interest of its shareholders and employees. Mindtrees's employees seem to feel the same way, saying the culture of their organisation is unique and that it should be left that way. Culture and values set us apart and L&T could potential destroy the fabric of it #mindtreematters https://t.co/tFCfbNvQYk — Gautham Gopalkrishna (@gauths_g) March 18, 2019 × Mindtree is one and only best company i have been with. the culture of mindtree is very unique. Mindtree is not a work place for me. its my Home and home is never for sale.#MindtreeMatters @Mindtree_Ltd — Anjan (@anjan_27) March 18, 2019 × Sustaining a good work culture matters.. Working with good people matters.. Loving what you do everyday matters.. Having Leaders who care, matters.. After having experienced all these things for just 2 years in Mindtree, I can proudly say #MindtreeMatters And it always will! :) — Elita D'souza (@elita_3094) March 18, 2019 × A number of them said on social media that Mindtree was like a "home" to them and a home is never for sale.

L&T to buy stake in Mindtree: Employees say takeover will destroy company's 'unique culture'

Cafe Coffee Day&#39;s slogan &quot;A lot&nbsp;can happen over coffee&quot; turns out to be apt.

A young man who was slapped by a female employee of CCD in Jaipur after filming cockroaches in the store&#39;s fridge has been charged with assaulting and hurling abuses at the woman, according to an<a href="http://indiatoday.intoday.in/story/ccd-staffer-slaps-customer-law-student-booked-viral-video/1/916098.html" target="_blank"> India Today</a>&nbsp;report.

There are conflicting accounts of exactly what happened, despite the existence of some video footage of it.

Arpan Verma, a student at the National Law University in Delhi, published a widely-shared video of the incident at CCD.

This post is not&nbsp;from&nbsp;Verma&#39;s account, which has been apparently removed. Here is the recording of&nbsp;the same incident, if not the same exact footage.&nbsp;

<iframe allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/mTS9C0ih01Y" width="560"></iframe>

Here is Verma&#39;s description of events.

According to a report by <a href="http://www.opindia.com/2017/03/man-finds-cockroaches-at-ccd-complains-gets-slapped-is-accused-of-molesting-woman-employee/" target="_blank">OpIndia</a>, Verma and another man entered the Jaipur CCD and made an order. When Verma noticed the cockroaches he asked for a refund and received it.&nbsp;At this point, the employee merely covered the cockroaches from view with a menu card and continued serving customers from the same fridge.

Verma told other customers about the cockroaches. He alleges that the employee became angry and asked him to leave the store. One employee became abusive, allegedly, and&nbsp;took out her phone and began recording.&nbsp;

Verma also began recording. This is where the above footage supposedly begins. He records the cockroaches in the refrigerated counter, then is slapped by the employee.&nbsp;

This event itself occurred on March 12, but videos of it first became public just this week, on March 27.

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Chronological order of events which proves bad motive on part of CCD<a href="https://twitter.com/hashtag/boycottCCD?src=hash">#boycottCCD</a> <a href="https://twitter.com/hashtag/shameonyouccd?src=hash">#shameonyouccd</a> <a href="https://twitter.com/aajtak">@aajtak</a> <a href="https://twitter.com/abpnewstv">@abpnewstv</a> <a href="https://twitter.com/ndtv">@ndtv</a> <a href="https://twitter.com/PMOIndia">@PMOIndia</a> <a href="https://t.co/OWaS90ATHI">pic.twitter.com/OWaS90ATHI</a>
&mdash; Raghav (@rraghav13) <a href="https://twitter.com/rraghav13/status/847122646693167105">March 29, 2017</a></blockquote>
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Unsurprisingly, the video generated backlash against CCD. #Boycott CCD was trending Thursday morning on social media site Twitter.

Activist Deepika Bhardwaj claims that rather than discipline their employee, Priyanka Priyadarshini, on March 29&nbsp;CCD staff&nbsp;took her&nbsp;to the Manak Chowk police station to submit a complaint against Verma for &quot;eve-teasing, harassment and molestation&quot;.

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<a href="https://twitter.com/DeepikaBhardwaj">@DeepikaBhardwaj</a> 
Thank you so much ma&#39;am for covering our story. <a href="https://twitter.com/arpan_verma15">@arpan_verma15</a> <a href="https://twitter.com/nikhilanand88">@nikhilanand88</a> <a href="https://t.co/g0GPzwy7HK">pic.twitter.com/g0GPzwy7HK</a>
&mdash; Harsh Arya (@Iamharsharya) <a href="https://twitter.com/Iamharsharya/status/846322638498623488">March 27, 2017</a></blockquote>
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This was their way of preventing him from going public with his expose, the report claims. Verma has since been called to the Jaipur police, due to the formal complaint against him.

&nbsp;

The CCD employee&#39;s side

According to Priyadarshini, Verma outraged her modesty and harassed her, police said. She claims that Verma and another man entered the CCD to order some beverages, and upon being told only coffee was for sale became furius and abusive, calling her a &quot;slut and bitch&quot;. She alleges that they then left the CCD&nbsp;then came back, which is when they began recording their footage.

There was a period of time that has been unrecorded, that took place before video was shot, and it&#39;s impossible to determine what took place here. The footage that the CCD employee shot has not been made public.

CCD had&nbsp;addressed the public about the incident, back on the March 27, claiming to be looking into what transpired.

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We have escalated the recent issue at our Jaipur outlet, and are in talks with the consumer &amp; the internal team to ascertain facts.
&mdash; Cafe Coffee Day (@CafeCoffeeDay) <a href="https://twitter.com/CafeCoffeeDay/status/846305684316717059">March 27, 2017</a></blockquote>
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According to Nikhil Anand Singh, who said he was&nbsp;friends with Verma,&nbsp;the lawyers from CCD asked Verma&nbsp;to drop the case against the coffee chain, and only then will they drop the FIR of sexual harassment.

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CCD lawyer flipped the negotiations, asking us to drop the case against CCD, then only they will drop the FIR of sexual harassment.<a href="https://twitter.com/PMOIndia">@PMOIndia</a>
&mdash; Nikhil Anand Singh (@nikhilanand88) <a href="https://twitter.com/nikhilanand88/status/847085269983604737">March 29, 2017</a></blockquote>
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CCD is a massive coffee chain in India, with over 1500 outlets across the 29 states of India, according to its page on <a href="https://en.wikipedia.org/wiki/Caf%C3%A9_Coffee_Day" target="_blank">Wikipedia</a>.

(WION)

The CCD employee filed a complaint that Verma 'eve-teased' her. Critics say it is an attempt to prevent the incident from going public

Cafe Coffee Day's slogan "A lot can happen over coffee" turns out to be apt. A young man who was slapped by a female employee of CCD in Jaipur after filming cockroaches in the store's fridge has been charged with assaulting and hurling abuses at the woman, according to an India Today report. There are conflicting accounts of exactly what happened, despite the existence of some video footage of it. Arpan Verma, a student at the National Law University in Delhi, published a widely-shared video of the incident at CCD. This post is not from Verma's account, which has been apparently removed. Here is the recording of the same incident, if not the same exact footage. Here is Verma's description of events. According to a report by OpIndia, Verma and another man entered the Jaipur CCD and made an order. When Verma noticed the cockroaches he asked for a refund and received it. At this point, the employee merely covered the cockroaches from view with a menu card and continued serving customers from the same fridge. Verma told other customers about the cockroaches. He alleges that the employee became angry and asked him to leave the store. One employee became abusive, allegedly, and took out her phone and began recording. Verma also began recording. This is where the above footage supposedly begins. He records the cockroaches in the refrigerated counter, then is slapped by the employee. This event itself occurred on March 12, but videos of it first became public just this week, on March 27. Chronological order of events which proves bad motive on part of CCD#boycottCCD #shameonyouccd @aajtak @abpnewstv @ndtv @PMOIndia pic.twitter.com/OWaS90ATHI — Raghav (@rraghav13) March 29, 2017 × Unsurprisingly, the video generated backlash against CCD. #Boycott CCD was trending Thursday morning on social media site Twitter. Activist Deepika Bhardwaj claims that rather than discipline their employee, Priyanka Priyadarshini, on March 29 CCD staff took her to the Manak Chowk police station to submit a complaint against Verma for "eve-teasing, harassment and molestation". @DeepikaBhardwaj Thank you so much ma'am for covering our story. @arpan_verma15 @nikhilanand88 pic.twitter.com/g0GPzwy7HK — Harsh Arya (@Iamharsharya) March 27, 2017 × This was their way of preventing him from going public with his expose, the report claims. Verma has since been called to the Jaipur police, due to the formal complaint against him. The CCD employee's side According to Priyadarshini, Verma outraged her modesty and harassed her, police said. She claims that Verma and another man entered the CCD to order some beverages, and upon being told only coffee was for sale became furius and abusive, calling her a "slut and bitch". She alleges that they then left the CCD then came back, which is when they began recording their footage. There was a period of time that has been unrecorded, that took place before video was shot, and it's impossible to determine what took place here. The footage that the CCD employee shot has not been made public. CCD had addressed the public about the incident, back on the March 27, claiming to be looking into what transpired. We have escalated the recent issue at our Jaipur outlet, and are in talks with the consumer & the internal team to ascertain facts. — Cafe Coffee Day (@CafeCoffeeDay) March 27, 2017 × According to Nikhil Anand Singh, who said he was friends with Verma, the lawyers from CCD asked Verma to drop the case against the coffee chain, and only then will they drop the FIR of sexual harassment. CCD lawyer flipped the negotiations, asking us to drop the case against CCD, then only they will drop the FIR of sexual harassment.@PMOIndia — Nikhil Anand Singh (@nikhilanand88) March 29, 2017 × CCD is a massive coffee chain in India, with over 1500 outlets across the 29 states of India, according to its page on Wikipedia. (WION)

Customer slapped in face after filming cockroaches in CCD charged with harassing employee who slapped him

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