Indian authorities confirmed on Wednesday they have recovered the body of coffee baron VG Siddhartha, who was missing since Monday night, from the Nethravathi river near Mangaluru in the southern Karnataka state.
Siddhartha, the founder of the Cafe Coffee Day (CCD) chain, was not reachable since late Monday,
The death of VG Siddhartha, the founder and owner of Café Coffee Day, has sent shockwaves across the business community in India.
Despite running India’s largest coffee chain, Mr Siddhartha maintained a very low profile, the brand he created went on to symbolize the rise of India’s economic stature on the global map.
It was claimed that a letter, purportedly written by Siddhartha, had blamed an unnamed private equity partner for pressuring him into a share buyback and tax authorities for “harassment” and decisions that hurt the company’s liquidity.
Siddhartha, who began his career as an investment banker, had sleepless nights when Starbucks entered India, according to an article he wrote for the Outlook magazine in 2016.
He had a “miserable moment” when Coffee Days stock tanked at its debut, giving him “quite an ego blow,” he wrote in the column.