VG Siddhartha missing: Cafe Coffee Day Board of directors hold emergency meeting following owner's disappearance | Highlights

Cafe Coffee Day founder VG Siddhartha was reported to be missing after he left from Bengaluru on Monday. Siddhartha is also the son-in-law of former Karnataka Chief Minister SM Krishna. VG Siddhartha was headed for Sakaleshpur, however he asked his driver to move towards Mangaluru on the way. He got down on a bridge over the Netravati river in Kotepura area in Dakshina Kannada district, and headed for a walk. But didn't return. The driver approached the police after waiting for two hours and lodged a missing complaint.

CCD founder VG Siddhartha missing: Latest Updates

5:15 pm: A meeting of the Board of Directors of Café Coffee Day (CCD) is being held in Bengaluru.

5:00 pm: Market analysts said that shares may lose one-third of its value if clarity regarding its financials are not declared soon. Cafe Coffee Enterprise on the BSE are trading at Rs 154.05 apiece, after it hit lower circuit post a decline of 20 per cent during the early trade on Tuesday, reports IANS

2:41 pm: NDRD teams continue to search Netravati area to locate VG Siddhartha.

2:30 pm: A fisherman has claimed that he saw SM Krishna's son-in-law jump into Netravati river.

2:20 pm: According to police sources, the last call made from VG Siddhartha's phone traces near the Netravati bridge where he went missing.

1:55 pm: Former PM HD Deve Gowda meets Former Union Minister SM Krishna at his residence. 

1:50 pm: DK Shivakumar, Congress on VG Siddhartha, founder-owner of Cafe Coffee Day going missing in Mangaluru: This incident is hard to believe, I've asked for an investigation. He is an asset to the country, we don't know if he is missing or someone has taken him away.

12:43 pm: ICGS Savitribai Phule kept standby for deploying off old Mangalore port at short notice.

 

12:42 pm: ACV (H-198) undertaking search in Nethrvathi River and providing support to diving teams. Three Coast Guard Diving Teams along with District Disaster Relief Team has been deputed to carry out search.

12:40 pm: ICGS Rajdoot tasked to patrol off old Mangalore Port and is maintaining sharp lookout, close to harbour mouth. 

12:15 pm: According to Police, VG Siddhartha is suspected to have committed suicide. 

"Siddhartha is suspected to have jumped into the Nethravathi river near Mangaluru from the bridge though his body has not been traced so far despite massive search operation," Mangaluru Police Commissioner Sandeep Patil told reporters. 

12:00 pm: Search operations continue in River Netravati near Mangaluru. 

 

 

11:58 am: No trace of VG Siddhartha even after 15 hours of continuous search. Here are some latest visuals of the search operation in River Netravati.

11:40 am: Shares of Coffee Day Enterprises tanked 20 per cent and hit the lower circuit limit as well as 52-week low of Rs 154.05 apiece on BSE after news surfaced.

11:35 am: "V G Siddhartha, Chairman and Managing Director of Coffee Day Enterprises Limited is not reachable since yesterday evening. We are taking the help of concerned authorities. Company is professionally managed and led by competent leadership team, which will ensure continuity of business," Coffee Day Enterprises says in a regulatory filing.

11:30 am: Bad weather is making things difficult as rescue team looks for CCD Boss VG Siddhartha

10:51 am: Former Karnataka CM, HD Kumaraswamy visits residence of former union minister SM Krishna. His son-in-law, VG Siddhartha has been missing from Mangaluru.

10:30 am: More than 200 policemen and divers on about 25 boats are carrying out searches to trace VG Siddhartha

10:26 am: BJP MP Shobha Karandlaje meets Union Home Minister Amit Shah, submits a letter to him, seeking help of central government to trace missing founder & owner of Cafe Coffee Day,VG Siddhartha.

9:48 am: Founder & owner, Cafe Coffee Day (CCD), VG Siddhartha'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."

9:27 am: Rescue team search Netravati river where Cafe Coffee Day founder SM Krishna's son-in-law VG Siddhartha went missing.

9:00 am: Karnataka CM BS Yediyurappa visited SM Krishna at his residence in Bengaluru earlier today. Congress leaders DK Shivakumar and BL Shankar too visited former Karnataka CM SM Krishna.

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Who is VG Siddhartha:

VG Siddhartha, son-in-law of former Karnataka CM SM Krishna, is best known as the founder-owner of the chain of Cafe Coffee Day. Siddhartha found himself amidst a tax evasion in 2017 when raids were conducted at over 20 locations in Mumbai, Bengaluru, Chennai and Chikmagalur. VG Siddhartha also founded Global Technology Ventures Ltd. in 2000, a company that identifies, invests and mentors Indian companies engaged in technologies.