See the letter: Cafe Coffee Day owner missing, alleged suicide note surfaces

Reports and social media posts are surfacing with a letter allegedly written by VG Siddhartha to his Cafe Coffee Day employees, before he went missing near a bridge in Mangaluru.

author_img Joy S Published :  30th July 2019 12:29 PM   |   Published :   |  30th July 2019 12:29 PM
Letter allegedly written by VG Siddhartha (Source: Internet)

Letter allegedly written by VG Siddhartha (Source: Internet)

Bangalore, July 30: Reports and social media posts are surfacing with a letter allegedly written by VG Siddhartha to his Cafe Coffee Day employees, before he went missing near a bridge in Mangaluru.

Images of the letter show Siddhartha saying, "I gave up as I could not take any more pressure".

Siddhartha has gone missing on a bridge in Mangaluru, Karnataka on Monday, according to reports.

Siddhartha was the founder of the Cafe Coffee Day chain and son-in-law of former Karnataka Chief Minister SM Krishna. 

The letter, which he apparently wrote to his employees, has been accessed by the news agency ANI.

Reports say that in the letter, Siddhartha alleges harassment by an income tax officer.

He also expresses regret for not being able to create "the right profitable business".

Rescue teams and sniffer dogs are currently examining the bridge over the Netravati River, where Siddhartha went missing. 

The Coast Guard and the National Disaster Response Force have also joined in the search, reports said.

 

Letter allegedly written by VG Siddhartha (Source: Internet)

 

"I have failed to create the right profitable business model despite my best efforts. I would like to say I gave it my all," says Siddhartha in the letter. 

"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..." he adds in the letter, which was tweeted by ANI.

 

 

"...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 to me succumbing to the situation," he continues. 

"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 taking position of our Coffee Day shares... This was very unfair and has led to a serious liquidity crunch," wrote Siddhartha in the letter, according to ANI reports.

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