Popular coffee chain Cafe Coffee Day has paid a tribute to its chairman and founder VG Siddhartha hours after he was declared dead by the authorities.
Releasing a statement on social media, it reads, “Today we remember the legend that inspired us all. Thank you, Chairman, for your vision, leadership and the great legacy”.
Today we remember the legend that inspired us all. Thank you Chairman VG Siddhartha for your vision, leadership and the great legacy. pic.twitter.com/tYMiglgofe
— Cafe Coffee Day (@CafeCoffeeDay) July 31, 2019
VG Siddhartha’s body was found on Wednesday morning
The body of Siddhartha, who had been missing since Monday evening, was found on Wednesday in the Netravati river in Dakshina Kannada district of Karnataka after 36 hours of intense search, officials said.
He purportedly wrote a letter indicating he was anxious about pressure from banks, investors and the tax authorities before he went missing.
“The board took cognizance of statements in the purported letter from Siddhartha relating to financial transactions outside the knowledge of the senior management, auditors and the board.
“While the authenticity of the letter is unverified and it is unclear whether these statements pertain to the company or the personal holdings of V G Siddhartha, the board took serious note of the same and resolved to thoroughly investigate this matter,” the filing said.