Café Coffee Day Owner VG Siddhartha had gone missing on Monday near Mangaluru river. Although police suspect it to be suicide yet a massive search missing has been rolled out in order to find the CCD King.
The investigation took an interesting turn when a statement was found allegedly written by owner of CCD. Reportedly the letter is addressed to the Board of Directors and Coffee Day family. Siddhartha has supposedly apologised for having failed to rightly operate the profitable business despite his dedication and devoted efforts.
The letter left behind by Siddhartha reads – “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 could not take any more pressure from one of the private equity partners forcing me to buy back shares, a transaction I had partially completed six months ago by borrowing a large sum of money from a friend.”
According to the letter the CCD owner surrendered to the failed situation due to heavy pressure from other lenders.
He allegedly went on surfacing that he had been harassed by a former Income Tax official who blocked his Mindtree deal, which led to severe liquidity crunch.
The letter also says that VG Siddhartha has held himself solely responsible for monetary loss of company. The letter says – “I am solely responsible for all mistakes. Every financial transaction is my responsibility. My team, auditors and senior management are totally unaware of all my transactions. The law should hold me and only me accountable.”
The mental and emotional turmoil was more clearly traced out when he said that he had failed as an entrepreneur.
The letter further quotes – “My intention was never to cheat or mislead anybody. I have failed as an entrepreneur. This is my sincere submission. I hope someday you will understand, forgive and pardon me.”
The missing entrepreneur ends his letter by saying that he had attached a list of the company’s assets and their tentative values. He quoted that the it would help repay everybody as the company’s assets outweigh its liabilities.