Dis: Anand Mahindra has said that due to failure of business, any industrialist should not give up their life.
On the death of V. Siddartha, son in law of former Karnataka CM SM Krishna and owner of Café Coffee Day, industrialist Anand Mahindra has said that any industrialist should not give up his life due to commercial failure. Entrepreneurship will die due to this move by industrialists.
After getting the dead body of V.G. Siddharth, owner of Cafe Coffee Day, industrialist Anand Mahindra tweeted that I did not know VG Siddhartha. I do not even know about their financial problems. I only know that any businessman should not allow business failure to dominate himself so much that he has to commit suicide.
Body of the founder of Cafe Coffee Day, VG Siddartha, was recovered in Hoige Bazaar near the Netravati River in Mangaluru on Wednesday. He was missing since last two days. A letter from his 27 July was revealed in which he told about his problems. In this letter, he also mentioned the huge losses and debts the company was facing. Also, the matter of pressure from the former DG of Income Tax Department was also stated.
Due to the disappearance of VG Siddhartha, he was suspected of committing suicide. 60-year-old VG Siddhartha was last seen on the bridge over the Netravati river in Kottapura area of south Kannada district on Monday evening. After the disappearance of Siddhartha, the National Disaster Response Force, Coast Guard, Home Guard, Fire Brigade and Police teams were engaged in finding them. More than 200 policemen, three groups of divers were looking for them with 25 boats. Help was also being taken from the helicopter.
By the way, a so-called letter written to the company's board before Siddharth's disappearance is also available on social media. In the letter, he described himself as a failed entrepreneur. In this letter, he has also accused the Income Tax Department officials of harassing them. Siddharth has written that due to this, there was a crisis of money crunch in front of him. It is clear from the letter that he was under tremendous financial difficulties. He acknowledged that under pressure from his private equity stakeholders he had to make a difficult decision like sharebackback. The effect was that other creditors of the company also started pressuring them. However, the Income Tax Department has denied the allegations of Siddharth, saying that the letter which is available on social media is not his signature, which is with the department.
