VG Siddhartha founded Starbucks’s Indian rival with 1,500 outlets
5 years, 5 months ago

VG Siddhartha founded Starbucks’s Indian rival with 1,500 outlets

Hindustan Times  

The founder of Coffee Day Enterprises Ltd., the Indian rival of Starbucks Corp., has been missing since Monday evening after he went on a walk, police said. 26 September 2015, New Delhi: VG Siddhartha chairman of Coffee Day Enterprises that runs Cafe Coffee Day outlets. V. G. Siddhartha asked his driver to stop his car, before going for a walk near the Southern Indian city of Mangaluru, local police official Jayant Kumar said by phone. Coffee Day Enterprises, in which Siddhartha holds 32.75% stake as per data compiled by Bloomberg, is a holding company for several businesses, the most prominent of which is Cafe Coffee Day, with more than 1,500 cafes across the country.

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History of this topic

Is Starbucks shutting shop in India? India JV partner Tata Consumer answers
3 weeks ago

Is Starbucks shutting shop in India? India JV partner Tata Consumer answers

Live Mint  

Is the American coffee giant Starbucks planning to shut shop in India? Tata Consumer CEO Sunil D'Souza told Reuters, “We will calibrate for the short term — maybe instead of opening 100, we will open 80 now, and next year we will open 120 instead of 100. Tata Starbucks is still focused on reaching its 2028 goal to operate 1,000 …

Cafe Coffee Day parent’s bankruptcy: What’s brewing at Cafe Coffee Global?
1 year, 5 months ago

Cafe Coffee Day parent’s bankruptcy: What’s brewing at Cafe Coffee Global?

Live Mint  

Coffee Day Enterprises Ltd, which primarily manages cafe chain outlets under the Cafe Coffee Day brand, is experiencing financial difficulties and is in the news for rumoured bankruptcy. Lets take a look at some of the key reasons for how Coffee Day Enterprises' peak moments have turned challenging in the recent times; Coffee Day Global NCLT episode On Monday, July …

Explained: Why SEBI has slapped a Rs 26 crore fine on Coffee Day Enterprises
1 year, 11 months ago

Explained: Why SEBI has slapped a Rs 26 crore fine on Coffee Day Enterprises

Firstpost  

SEBI found diversion of funds amounting to Rs 3,535 crore from seven subsidiaries of Coffee Day Enterprises Ltd to Mysore Amalgamated Coffee Estates Ltd, an entity related to promoters of CDEL New Delhi: Capital markets regulator SEBI on Tuesday imposed a penalty of Rs 26 crore on Coffee Day Enterprises, which runs Cafe Coffee Day, for diversion of funds from …

Sebi Slaps Rs 26 Crore Fine on Coffee Day Enterprises; Here's Why
1 year, 11 months ago

Sebi Slaps Rs 26 Crore Fine on Coffee Day Enterprises; Here's Why

News 18  

Capital markets regulator Sebi on Tuesday imposed a penalty of Rs 26 crore on Coffee Day Enterprises, which runs Cafe Coffee Day, for diversion of funds from subsidiaries to a company related to promoters. Also, Sebi has directed Coffee Day Enterprises Ltd to take all necessary steps for recovery of entire dues from Mysore Amalgamated Coffee Estates Ltd and its …

Sebi slaps ₹26 cr fine on Coffee Day Enterprises, asks to be paid in 45 days
1 year, 11 months ago

Sebi slaps ₹26 cr fine on Coffee Day Enterprises, asks to be paid in 45 days

Hindustan Times  

Capital markets regulator Sebi on Tuesday imposed a penalty of ₹26 crore on Coffee Day Enterprises, which runs Cafe Coffee Day, for diversion of funds from subsidiaries to a company related to promoters. Also, Sebi has directed Coffee Day Enterprises Ltd to take all necessary steps for recovery of entire dues from Mysore Amalgamated Coffee Estates Ltd and its related …

Coffee Day delivers 2.6% return to KKR
3 years, 4 months ago

Coffee Day delivers 2.6% return to KKR

Live Mint  

Coffee Day Enterprises Ltd has handed out a 2.6% annualized return on paper for the 12-year bet of KKR & Co. Inc., going by the Wednesday price at which the US private equity firm made a partial exit from the owner of the Cafe Coffee Day chain. In terms of multiple of invested capital, Coffee Day Enterprises has bumped up …

Coffee Day Appoints Malavika Hegde, Wife of Founder VG Siddhartha, as New CEO
4 years, 1 month ago

Coffee Day Appoints Malavika Hegde, Wife of Founder VG Siddhartha, as New CEO

News 18  

Coffee Day Enterprises Ltd, the owner of the Cafe Coffee Day chain, appointed founder and former chairman V.G. In July last year, Coffee Day Enterprises named independent board member S.V. Bengaluru-based Cafe Coffee Day runs hundreds of coffee shops across India that brew cappuccinos and lattes for India’s booming moneyed class and compete with the likes of Starbucks Corp, Barista …

Café Coffee Day case: $270 million missing after founder Siddhartha's suicide
4 years, 9 months ago

Café Coffee Day case: $270 million missing after founder Siddhartha's suicide

India TV News  

An investigation reveals shocking details into Coffee Day Enterprises Ltd after the death of founder V.G. According to Bloomberg reports, the months-long following the suicide of Siddhartha examined the financial transactions of India’s largest coffee chain and its dealings with dozens of private companies owned by the entrepreneur. Hence it would be premature to speculate on the investigation findings.” The …

Coffee Day investigation reveals about Rs 2,000 cr missing from firm's accounts after death of VG Siddhartha; report likely to be released soon
4 years, 9 months ago

Coffee Day investigation reveals about Rs 2,000 cr missing from firm's accounts after death of VG Siddhartha; report likely to be released soon

Firstpost  

Over a hundred-page draft report, which is expected to be released soon, mentioned about the financial transactions of Coffee Day and its dealings with dozens of private companies owned by Siddhartha. An investigation of Coffee Day Enterprises reportedly found that about Rs 2,00 crore was missing from the accounts of Bengaluru-based coffee chain after the death of its founder VG …

Blackstone Group all set to buy Cafe Coffee Day's Global Village Tech Park; firm's debt to come down by more than half post-deal
5 years, 3 months ago

Blackstone Group all set to buy Cafe Coffee Day's Global Village Tech Park; firm's debt to come down by more than half post-deal

Firstpost  

Accordingly, Blackstone and South-based developer Salarpuria Sattva will acquire the 90-acre, technology park held by subsidiary, Tanglin Retail Realty. Blackstone Group is all set to acquire Coffee Day Enterprises arm Global Village Tech Park in Bengaluru in a bid to reduce the parent company’s debt, said a media report. Blackstone Group reportedly inked a definitive pact to buy Coffee Day …

Coffee Day Enterprises ropes in ex-CBI official to scrutinise books of accounts; harassment charges to be probed
5 years, 4 months ago

Coffee Day Enterprises ropes in ex-CBI official to scrutinise books of accounts; harassment charges to be probed

Firstpost  

Earlier, Coffee Day Enterprises had appointed global accounting firm EY to scrutinise the books of accounts of the company and its subsidiaries. New Delhi: Coffee Day Enterprises on Friday said it has decided to engage the services of Central Bureau of Investigation former DIG Ashok Kumar Malhotra to scrutinise the books of accounts of the company and its subsidiaries. Malhotra …

CCD founder V.G. Siddhartha's death: Brewing mystery
5 years, 4 months ago

CCD founder V.G. Siddhartha's death: Brewing mystery

The Hindu  

VEERAPPA Gangaiah Siddhartha Hegde, the 59-year-old billionaire coffee entrepreneur, was not known to be a flamboyant, in-your-face kind of businessman. The swanky Café Coffee Day outlets, with the promise of free Internet, cleanliness and classy service, complemented Bengaluru’s ultramodern look as the Silicon Valley of India. Pressure from private equity players Café Coffee Day may have been his most famous …

ITC, Asia’s largest cigarette maker, considers stake in Coffee Day: Report
5 years, 4 months ago

ITC, Asia’s largest cigarette maker, considers stake in Coffee Day: Report

Hindustan Times  

ITC Ltd. is considering a bid to buy a stake in Coffee Day Enterprises Ltd. as the nation’s biggest cigarette maker seeks to diversify its businesses, according to people familiar with the matter. The maker of Classic and Gold Flake cigarettes has been given access to Coffee Day’s assets and financial for due diligence, said the people, who asked not …

How much is Coffee Day worth without its founder V.G. Siddhartha?
5 years, 4 months ago

How much is Coffee Day worth without its founder V.G. Siddhartha?

Live Mint  

Coffee Day Enterprises Ltd had a market capitalization of ₹4,050 crore before news emerged that its founder V.G. Thanks to a strange regulation that disallows free price discovery for certain types of stocks, Coffee Day shares are allowed to fall only at a gradual rate each day by the country’s stock exchanges. The company’s shares fell to ₹40 on that …

Coffee Day Enterprises to sell its Bengaluru tech park to Blackstone for up to Rs 3,000 cr to cut debt
5 years, 4 months ago

Coffee Day Enterprises to sell its Bengaluru tech park to Blackstone for up to Rs 3,000 cr to cut debt

Firstpost  

Cafe chain operator Coffee Day Enterprises on Wednesday announced the sale of its Global Village Tech Park in Bengaluru to Blackstone for up to Rs 3,000 crore to cut its debt New Delhi: Cafe chain operator Coffee Day Enterprises on Wednesday announced the sale of its Global Village Tech Park in Bengaluru to Blackstone for up to Rs 3,000 crore …

Coffee Day Enterprise appoints EY to scrutnize accounts
5 years, 5 months ago

Coffee Day Enterprise appoints EY to scrutnize accounts

Live Mint  

New Delhi: Coffee Day Enterprises on Thursday said it has appointed global accounting firm EY to scrutinize the books of accounts of the company and its subsidiaries. Besides, EY will also investigate into the circumstance under which Coffee Day Enterprises late founder V G Siddhartha had written the purported letter dated 27 July 2019, alleging harassment by the Income Tax …

CCD board meeting: Coffee Day Enterprise appoints EY to scrutnize book of accounts; investigate into VG Siddhartha purported letter
5 years, 5 months ago

CCD board meeting: Coffee Day Enterprise appoints EY to scrutnize book of accounts; investigate into VG Siddhartha purported letter

Firstpost  

New Delhi: Coffee Day Enterprises on Thursday said it has appointed global accounting firm EY to scrutinize the books of accounts of the company and its subsidiaries. Besides, EY will also investigate into the circumstance under which Coffee Day Enterprises late founder VG Siddhartha had written the purported letter dated 27 July, 2019, alleging harassment by the Income Tax department. …

Aware of reports questioning authenticity of VG Siddhartha's signature: Coffee Day Enterprises
5 years, 5 months ago

Aware of reports questioning authenticity of VG Siddhartha's signature: Coffee Day Enterprises

Firstpost  

New Delhi: Coffee Day Enterprises Ltd on Tuesday said it is aware of reports questioning the authenticity of the signature on the purported letter written by late founder VG Siddhartha and is cooperating with regulatory authorities on this issue. In a reply to the clarification sought by the bourses on the issue, Coffee Day Enterprises said “the company is aware …

In 2017, CCD founder VG Siddhartha admitted to ₹658-cr ‘unaccounted’ assets: I-T
5 years, 5 months ago

In 2017, CCD founder VG Siddhartha admitted to ₹658-cr ‘unaccounted’ assets: I-T

Hindustan Times  

VG Siddhartha, former chairman of Cafe Coffee Day group, in a sworn statement to the income-tax department had “voluntarily” admitted “unaccounted” incomes of over Rs 658 crore on September 23, 2017, and had asked for leniency, according to a statement reviewed by HT. CCD founder VG Siddhartha’s body was found on Wednesday morning from the backwaters of the Netravathi river …

Latest reports reveal CCD's VG Siddhartha was under huge debt
5 years, 5 months ago

Latest reports reveal CCD's VG Siddhartha was under huge debt

Op India  

Data collected from stock exchanges and Ministry Of Corporate Affairs’ filings have unfolded that VG Siddhartha’s debt pile up may have been up to Rs 11,000 crore, a report in Business Today said. As per the Business Today report, though the Coffee Day Enterprises, reported a debt of Rs 6,547 crore as on 31 March 2019, fresh data from Siddhartha …

Death of Cafe Coffee Day founder reveals strain of India’s cash crunch
5 years, 5 months ago

Death of Cafe Coffee Day founder reveals strain of India’s cash crunch

Hindustan Times  

Even before the body of coffee-chain tycoon V.G. The body of billionaire Indian coffee magnate VG Siddhartha was found by a river in Mangaluru on July 31 A letter purportedly written and signed by Siddhartha and sent to senior management of Coffee Day Enterprises Ltd. laid out in stark words his struggles with a “serious liquidity crunch” that in turn …

Cafe Coffee Day Founder VG Siddhartha Had Personal Debt of Rs 1000 Crore: Report
5 years, 5 months ago

Cafe Coffee Day Founder VG Siddhartha Had Personal Debt of Rs 1000 Crore: Report

News 18  

Café Coffee Day founder-owner VG Siddhartha, whose body was found in a river in Karnataka on Wednesday — a day after a purported letter written by him surfaced — had a personal debt of Rs 1,000 crore, a report said. According to a report in the Economic Times that cited corporate affairs ministry documents, the debt was primarily raised through …

VG Siddhartha made youngsters fall in love with coffee
5 years, 5 months ago

VG Siddhartha made youngsters fall in love with coffee

Deccan Chronicle  

Mysuru: It was a sad day for Kodagu which contributes 70 percent of coffee production in the entire country with planters mourning the sad demise of Café Coffee Day owner, V.G. Earlier, the coffee board used to manage coffee trade but things changed after Mr Siddhartha pioneered the concept of Café Coffee Day, and created a brand image to popularise …

Why Coffee Day Enterprises left a bitter taste for its investors
5 years, 5 months ago

Why Coffee Day Enterprises left a bitter taste for its investors

Live Mint  

In 2015, at a press conference ahead of Coffee Day Enterprises Ltd’s initial public offering, V.G. Deepak Jasani, head of retail research, HDFC Securities Ltd, said investors have not earned the returns they were expecting despite a fairly successful coffee chain. Jasani also pointed out that the investors have not been too keen on CDEL despite the steady coffee business …

CCD founder VG Siddhartha cremated in Karnataka's Chikkamagaluru; probe into death continues, police suspect suicide
5 years, 5 months ago

CCD founder VG Siddhartha cremated in Karnataka's Chikkamagaluru; probe into death continues, police suspect suicide

Firstpost  

Siddhartha’s body was traced after 36 hours of an intensive search operation with a letter allegedly written by him to the board of directors and employees of his company Coffee Day Enterprises, showing he was struggling with financial problems due to debt, taxes and share buy backs. Siddhartha’s body was traced after 36 hours of an intensive search operation, with …

India Inc remembers CCD’s Siddhartha as a humble man
5 years, 5 months ago

India Inc remembers CCD’s Siddhartha as a humble man

Live Mint  

Industry captains on Wednesday paid rich tributes to V G Siddhartha, founder of India's biggest coffee chain Cafe Coffee Day, remembering his entrepreneurial spirit and humble nature but also cautioned entrepreneurs not to let failures destroy their self-esteem. Industry leaders such as Kiran Mazumdar Shaw of Biocon, automobile czar Anand Mahindra, Paytm's Vijay Shekhar Sharma, Sachin Bansal of Ola and …

CCD boss Siddhartha to be cremated at his coffee estate in Karnataka
5 years, 5 months ago

CCD boss Siddhartha to be cremated at his coffee estate in Karnataka

India TV News  

The last rites of Cafe Coffee Day founder VG Siddhartha will be performed at one of his coffee estates in Karnataka by Wednesday evening. "Hundreds of people, including women and elders from the surrounding towns and villages, thronged the estate in the Mudigeree taluk for the last glimpse of the coffee baron and pay homage to him," the source said. …

V.G. Siddhartha, the man who changed how India sips coffee
5 years, 5 months ago

V.G. Siddhartha, the man who changed how India sips coffee

Live Mint  

New Delhi: He wanted to be an investment banker and had little interest in his family's coffee business. Siddhartha, the founder of India's biggest coffee chain, Cafe Coffee Day, was confirmed dead on Wednesday, days after he went missing. In 1984, he launched his own investment and venture capital firm Sivan Securities in Bangalore and began investing the profits from …

Coffee Day names new interim chairman, to probe past transactions
5 years, 5 months ago

Coffee Day names new interim chairman, to probe past transactions

Live Mint  

Following the death of Cafe Coffee Day Group founder V G Siddhartha, Coffee Day Enterprises Ltd today appointed SV Ranganath as the company’s interim chairman. This comes in the backdrop of certain allegations made by Siddhartha in a purported letter to the company's board before his sudden demise in an alleged suicide attempt. Following a board meeting, Ranganath, who has …

VG Siddhartha found dead: CCD founder reimagined idea of coffee in India, always sought to strike out on his own
5 years, 5 months ago

VG Siddhartha found dead: CCD founder reimagined idea of coffee in India, always sought to strike out on his own

Firstpost  

V G Siddhartha was listed as the 75th richest man in India in the Forbes billionaire in 2015 Missing for over 48 hours, the body of VG Siddhartha, founder of India’s largest coffee chain Cafe Coffee Day, was found on Wednesday morning in Netravati river where the business tycoon was last seen. Income tax troubles In January this year, the …

VG Siddhartha found dead in Mangaluru: No one was harassed, claims Income Tax dept; CCD founder had tax liability of Rs 447.47 crore
5 years, 5 months ago

VG Siddhartha found dead in Mangaluru: No one was harassed, claims Income Tax dept; CCD founder had tax liability of Rs 447.47 crore

Firstpost  

“The investigation had started after a search in September 2017 and VG Siddhartha himself had admitted the income of Rs 362.11 crore and Rs 11.62 crore. Thereafter, income tax investigation wing in appraisal report had estimated undisclosed income of Rs 364.46 crore in case of VG Siddhartha and Rs 118.02 Crore for Coffee Day Enterprises Limited,” sources said, adding that …

Coffee Day Enterprises shares hit 20% lower circuit on Siddhartha’s death news
5 years, 5 months ago

Coffee Day Enterprises shares hit 20% lower circuit on Siddhartha’s death news

Live Mint  

Shares of Coffee Day Enterprises Ltd hit 20% lower circuit for the second straight day on Wednesday, falling to an all-time low, after owner V.G. The company's shares hit a record low of ₹122.75 on BSE, having slumped over 44% since mid-July. This debt of ₹2,000 crore was over and above the consolidated borrowings of Café Coffee Day group, which …

#RIPSiddhartha: Cafe Coffee Day (CCD) outlets shut for a day
5 years, 5 months ago

#RIPSiddhartha: Cafe Coffee Day (CCD) outlets shut for a day

Live Mint  

Bengaluru: The popular retail chain Cafe Coffee Day decided to shut shop on Wednesday across the country in memory of its founder-chairman V.G. "All our 1,750 retail outlets in about 240 cities will remain shut for the day as a mark of respect to our founder-chairman Siddhartha who is no more," the source told IANS here. "A holiday has also …

RIP Siddhartha: CCD outlets across country to shut for a day
5 years, 5 months ago

RIP Siddhartha: CCD outlets across country to shut for a day

India TV News  

The popular retail chain Cafe Coffee Day decided to shut shop on Wednesday across the country in memory of its founder-chairman V.G. "All our 1,750 retail outlets in about 240 cities will remain shut for the day as a mark of respect to our founder-chairman Siddhartha who is no more," the source told IANS here. Offices of the CCD, including …

CCD founder VG Siddhartha cremated at Chethanahalli estate | Highlights
5 years, 5 months ago

CCD founder VG Siddhartha cremated at Chethanahalli estate | Highlights

India TV News  

The cremation of Cafe Coffee Day founder VG Siddhartha took place in his ancestral home in Chethanahalli at Mudigere taluk, Chikkamagaluru, on Wednesday. 04:00 pm: Siddhartha to be cremated at his coffee estate in Karnataka The last rites of Cafe Coffee Day founder VG Siddhartha will be performed at one of his coffee estates in Karnataka by Wednesday evening. Here's …

CCD owner VG Siddhartha’s body found near Mangaluru river 2 days after he went missing
5 years, 5 months ago

CCD owner VG Siddhartha’s body found near Mangaluru river 2 days after he went missing

Hindustan Times  

The body of Cafe Coffee Day founder VG Siddhartha was found from the banks of the Netravathi River in Karnataka’s Mangaluru on Wednesday, two days after he went missing, police said. The 60-year-old Siddhartha had gone missing since Monday evening from the road bridge between Ullal and Mangaluru over the river around 7pm, his driver Basavaraj Patil told the police. …

VG Siddhartha: From Plantation Owner's Son to Coffee King of India, Tracing the Tycoon's Journey
5 years, 5 months ago

VG Siddhartha: From Plantation Owner's Son to Coffee King of India, Tracing the Tycoon's Journey

News 18  

New Delhi: VG Siddhartha, son of a coffee plantation owner, was born in Karnataka’s Chikkamagaluru and started his career as a management trainee trading in Indian stock market at JM Financial under the tutelage of Mahendra Kampani in 1983, after completing his masters’ degree in Mangalore University. It was only in 1992 that Siddhartha started his coffee business Amalgamated Bean …

CCD founder VG Siddhartha's body recovered from Netravati river near Mangaluru
5 years, 5 months ago

CCD founder VG Siddhartha's body recovered from Netravati river near Mangaluru

India TV News  

CCD Founder VG Siddhartha's body has been recovered from Netravati river near Mangaluru after a 35-hour extensive search. In the letter addressed to the 'Board of Directors and Coffee Day family', VG Siddhartha has apologised for having failed to create the right profitable business model despite his best efforts. fought for a long time but today I gave up as …

‘Lonely at the top’ V G Siddhartha pushed to the edge?
5 years, 5 months ago

‘Lonely at the top’ V G Siddhartha pushed to the edge?

Deccan Chronicle  

BENGALURU: It’s perhaps a case of being ‘lonely at the top’ rather than an unsuccessful attempt at creating a “right profitable business model” as declared in the letter reportedly mailed by V G Siddhartha, Chairman & Managing Director of the enterprise which owns the iconic chain of Café Coffee Day outlets across the world, say his relatives as they await …

CCD founder was facing trouble raising fresh debt
5 years, 5 months ago

CCD founder was facing trouble raising fresh debt

Live Mint  

Mumbai: Café Coffee Day founder V.G. Siddhartha, missing since Monday evening, was in talks to urgently refinance a large portion of his outstanding debt taken in his personal capacity, said two people directly aware of his discussions with lenders. However, given the tight liquidity conditions in the market, he was having trouble raising fresh debt,” said one of the two …

India’s coffee king, V.G.Siddhartha, goes missing; feared dead
5 years, 5 months ago

India’s coffee king, V.G.Siddhartha, goes missing; feared dead

Live Mint  

Siddhartha, the founder of India’s largest coffee chain, went missing from a bridge over the Netravathi river near Mangaluru and is suspected to have committed suicide, triggering a massive search and shocking India’s business community. Café Coffee Day, the coffee chain Siddhartha founded in 1996 in Bengaluru, grew to become India’s largest, with more than 1,700 cafés across the country. …

Opinion | The curious case of VG Siddhartha’s missing exposes dark side of entrepreneurship
5 years, 5 months ago

Opinion | The curious case of VG Siddhartha’s missing exposes dark side of entrepreneurship

Live Mint  

The massive success of the IT and Digital startups in achieving fascinating valuations in short period of time, is attracting attention of the young millennials. And as Spiderman says, ‘with great powers there must also come great responsibility,’ amidst the success of entrepreneurship in India in creating wealth for their owners and investors, not many are talking about the challenges …

V.G. Siddhartha: The rise and fall of founder of India’s biggest coffee chain
5 years, 5 months ago

V.G. Siddhartha: The rise and fall of founder of India’s biggest coffee chain

Live Mint  

New Delhi: Son of a coffee plantation owner, V G Siddhartha created the Indian rival of Starbucks but his sudden disappearance and a letter by him alluding to pressures from a PE investor to buy back shares have left many questions answered. In 1984, he launched his own investment and venture capital firm Sivan Securities in Bangalore, and began investing …

After V.G. Siddhartha goes missing, Coffee Day holds emergency board meeting
5 years, 5 months ago

After V.G. Siddhartha goes missing, Coffee Day holds emergency board meeting

Live Mint  

Bengaluru-based Coffee Day Enterprises Ltd informed the stock exchange, in a second filing on Tuesday evening, that the company had an emergency board meeting Tuesday. It has been over 10 hours since search and rescue operations have been launched on the surface of the Nethravati river, in Mangaluru, to find Cafe Coffee Day chairman V.G. ".The Board is confident that …

Of a bitter brew: What led to VG Siddhartha's downfall? | Explained
5 years, 5 months ago

Of a bitter brew: What led to VG Siddhartha's downfall? | Explained

India TV News  

Cafe Coffee Day boss VG Siddhartha's alleged suicide and purported note has caused consternation across corporate India. Earlier this year in March, he had sold his entire 20.32 per cent stake in the Bengaluru-headquartered IT services firm to engineering major, L&T for around Rs 3,200 crore, which had been utilised to pare some debt from Coffee Day Enterprises' balance sheet. …

Café Coffee Day Founder VG Siddhartha: Income Tax Department acted as per law in case, say sources
5 years, 5 months ago

Café Coffee Day Founder VG Siddhartha: Income Tax Department acted as per law in case, say sources

Firstpost  

The Income Tax Department has acted as per law in its probe against Café Coffee Day promoter VG Siddhartha, official sources said on Tuesday, after a letter purportedly written by him accused tax authorities of harassment New Delhi: The Income Tax Department has acted as per law in its probe against Café Coffee Day promoter VG Siddhartha, official sources said …

CCD founder VG Siddhartha: Private equity firm KKR 'saddened' by developments; clarifies did not sell any shares to firm after February 2018
5 years, 5 months ago

CCD founder VG Siddhartha: Private equity firm KKR 'saddened' by developments; clarifies did not sell any shares to firm after February 2018

Firstpost  

In a letter to shareholders, Siddhartha had said he was under tremendous pressure from one of the private equity partners and lenders VG Siddhartha, who is missing since 29 July, had in a letter reportedly written to shareholders, said he was under tremendous pressure from one of the private equity partners and lenders. In response to the letter, KKR, a …

Siddhartha still untraceable, search operations in Mangaluru to resume Wednesday
5 years, 5 months ago

Siddhartha still untraceable, search operations in Mangaluru to resume Wednesday

Live Mint  

Mangaluru: A day-long search operation along Netravathi river near Mangaluru for Cafe Coffee Day founder V.G. Diving teams along with District Disaster Relief Team carry out searching operations at Netravati River for Cafe Coffee Day Founder VG Siddhartha in Mangaluru on Tuesday Local boys, from the fishing community, who were angling at the river bank at 7 pm on Monday, …

Siddhartha still untraceable, search operations in Mangaluru to resume Wednesday
5 years, 5 months ago

Siddhartha still untraceable, search operations in Mangaluru to resume Wednesday

Live Mint  

Mangaluru: A day-long search operation along Netravathi river near Mangaluru for Cafe Coffee Day founder V.G. Diving teams along with District Disaster Relief Team carry out searching operations at Netravati River for Cafe Coffee Day Founder VG Siddhartha in Mangaluru on Tuesday Local boys, from the fishing community, who were angling at the river bank at 7 pm on Monday, …

As CCD founder goes missing, here is how the Income Tax sleuths had uncovered Rs 650 crores undisclosed income in 2017
5 years, 5 months ago

As CCD founder goes missing, here is how the Income Tax sleuths had uncovered Rs 650 crores undisclosed income in 2017

Op India  

VG Siddhartha, the founder of India’s largest coffee chain Cafe Coffee Day and also owns Asia’s single-largest coffee estate, is reportedly missing since Monday evening. According to reports, the raids had concluded with VG Siddhartha admitting that Cafe Coffee Day had an undisclosed income of over Rs. A team of I-T sleuths had also cracked down on Coffee Day Square …

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