Hours after the founder Cafe Coffee Day, VG Siddhartha went missing, reportedly, a letter by VG Siddhartha sent to the management and employees of the coffee chain came forward in which he expressed unhappiness over not creating “the right profitable business” and alleged “harassment” by a senior income tax officer.
“I have failed to create the right profitable business model despite my best efforts. I would like to say I gave it my all. 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…” Siddhartha wrote in the letter tweeted by ANI.
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Founder & owner, Cafe Coffee Day (CCD), #VGSiddhartha‘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.”; He has gone missing from Mangaluru, search operation underway. pic.twitter.com/0GJc5vmvYt
— ANI (@ANI) July 30, 2019
Siddhartha sold his entire 20% equity stake in consultancy firm Mindtree to Mumbai-based Larsen & Toubro for Rs. 3,300 crore in March this year.
He further stated: “every financial transaction is my responsibility…the law should hold me & only me accountable.”
He has gone missing from Mangaluru, search operation underway.