VG Siddhartha: Kiran Mazumdar Shaw, Harsha Bhogle, Kunal Bahl express shock over CCD founder's disappearance

Many top personalities of India Inc including Kiran Mazumdar Shaw and Kunal Bahl have expressed their grief over Cafe Coffee Day founder VG Siddhartha's sudden disappearance. The entrepreneur has been missing since Monday evening from Netravati dam site in Karnataka. The Karnataka Police have launched a full-fledged search for the missing businessman. However, a day before the disappearance, Siddhartha had allegedly sent a letter to the employees apologising for letting so much financial problems in CCD accumulate over time.

However, some of the biggest names of India Inc who are no strangers to financial turbulence have voiced their opinions and expressed their disappointment at his disappearance.

Biocon MD Kiran Mazumdar Shaw said that it is a shocking and sad end to a quiet and unassuming pioneer.

Coffee Day Owner Alleged Harassment By Tax Officer In Letter: Report - Such a shocking and sad end to a quiet n unassuming pioneer who started the coffee cafes business ahead of Starbucks in India. https://t.co/SKgAJH3dAS

- Kiran Mazumdar Shaw (@kiranshaw) July 30, 2019

She posted a follow-up tweet suggesting an investigation into the private equity fund that Siddhartha alleged had put tremendous pressure on him.

It seems to indicate that the Private Equity fund manager acted like a money lender n seems to have caused unbearable stress - needs to be investigated pic.twitter.com/DYKjTnRU0Q

- Kiran Mazumdar Shaw (@kiranshaw) July 30, 2019

Snapdeal co-founder and CEO Kunal Bahl called Siddhartha 'an absolute gentleman' and said that he will always see his legacy as a very successful entrepreneur.

So heartbreaking. Had met him a few times - an absolute gentleman. How can someone get pushed so far to the edge in business, that they decide to take a fall themselves. I will always see his legacy as a very successful entrepreneur who brought coffee in our lives. My prayers https://t.co/bXHh2vyKmW

- Kunal Bahl (@1kunalbahl) July 30, 2019

Cricket commentator Harsha Bhogle also expressed his grief and said that Siddhartha had created an excellent brand.

I can't say I knew #VGSiddhartha but I had met him socially a couple of times. He introduced me to his ready-to-go brand of coffee (then called Drizzle, now FiltaFresh) which I still carry with me while travelling. He created an excellent brand.

- Harsha Bhogle (@bhogleharsha) July 30, 2019

Anuraag Saxena, founder of India Pride Project that ensures that stolen Indian artefacts are brought back to the country, said that tax terrorism is pushing businessmen towards such drastic decisions.

As terrible as #VGSiddhartha's news is, its also a reminder to the #TaxTerrorism that's pushing businessmen towards drastic decisions. pic.twitter.com/nxcJU3NIfQ

- Anuraag Saxena (@anuraag_saxena) July 30, 2019

Amit Ranjan, co-founder of SlideShare, a hosting service for professional content, said that he certainly wasn't a failed entrepreneur.

The #VGSiddhartha news is just stunning. He certainly wasnt a failed entrepreneur!

Black letter day for startups & entrepreneurship in India!

Has to be said - new age startups are lucky to be (largely) funded by equity, debt driven businesses are far more harsh & stressful #CCD https://t.co/xDisccn2U1

- Amit Ranjan (@amitranjan) July 30, 2019

Paytm chief Vijay Shekhar Sharma also retweeted a post by Pankaj Mishra, founder of FactorDaily that said, "Entrepreneurial journeys are shockingly unpredictable despite all the science, glory and heroics."

The letter undersigned by Siddhartha states, "Every financial transaction is my responsibility. My team, auditors and senior management are totally unaware of all my transactions."

He concludes the letter by saying that his intention was never to cheat or mislead anybody and that he has failed as an entrepreneur. "I hope someday you will understand, forgive and pardon me," the letter mentions.

Also read: Cafe Coffee Day founder VG Siddhartha's signature on letter differs from signature on company's annual reports

Also read: VG Siddhartha case: Cafe Coffee Day debt had shot up 64% to Rs 6,500 crore in 2018-19; profits had improved