It has been confirmed that the body of the founder and owner of India’s largest coffee chain, Cafe Coffee Day, was found last week after he disappeared in mysterious circumstances.
VG Siddhartha went missing on 30 July 2019 after walking away from his car and driver.
On 31 July police said a body had been found by fishermen on a river close to the southern city of Mangalore.
Coffee Day Enterprises Limited, the holding company for the coffee chain, held an emergency board meeting to discuss the situation.
BBC News Online reported that Mr Siddhartha left a letter in which he indicated that he was in debt and had “failed to create the right profitable business model despite my best efforts.”
The letter also referred to “a serious liquidity crunch” but the authenticity of the letter has been questioned.
[photo: Cafe Coffee Day]