'I'm a failed entrepreneur', Coffee Day founder goes missing

'I'm a failed entrepreneur', Coffee Day founder goes missing

The founder and owner of Cafe Coffee Day and son-in-law of former Karnataka chief minister SM Krishna, VG Siddhartha went missing since Monday.

Siddhartha is known as the Coffee King of India, was last seen near a bridge across the Nethravathi River near Mangalore, about 375km from Bengaluru. His car driver was with him when he informed the driver that he will go for a walk. Even after an hour Siddhartha did not return and with no other option, the driver complained to the police.

Hours after Siddhartha went missing, a letter has been found and this has revealed the main reason behind his missing. In the letter, Siddhartha mentioned that private equity partners are creating pressure to buy back stocks and unable to take it any further, he ran away. The letter also alleged the involvement of ex-Director General of Income Tax. "My intention was never to cheat or mislead anybody. I have failed as an entrepreneur. This is my sincere submission: VG Siddhartha's letter to employees", Siddhartha wrote in the letter.  The police have launched a search hunt and are likely to question people who are responsible for his missing.

Cafe Coffee Day was founded in the year 1993 and currently has 1500 outlets spread across 200 cities in India and world. Siddhartha holds 32.75% stake as per data compiled by Bloomberg. The stock was down 20% after this news.