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

BusinessToday.In     July 30, 2019

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.

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

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.

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

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.

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

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

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