Café Coffee Day founder V G Siddhartha’s father Gangaiah Hegde passes away
Days after V G Siddhartha, founder of Cafe Coffee Day, found dead on the banks of Netravati River near Hoige Bazaar in Mangaluru his father Gangaiah Hegde also passed away at a hospital in Mysuru on Sunday. Gangaiah Hegde, 95, was in a coma for a prolonged period of time and was unaware of his son’s death.
Gangaiah’s last rites will be performed in their native village on Monday.
V G Siddhartha was reported missing on July 29 evening after he had told his driver that he was going to take a walk. He had alleged harassment by income tax officials and a private equity partner in his letter to employees and the management of the CCD group. Under pressure over rising competition and a debt of over Rs 6,500 crore, VG Siddhartha said in his letter that he had failed as an "entrepreneur".
However, rebutting Siddhartha's claims, the I-T department raised questions on the authenticity of the letter allegedly written by the businessman. The department said, "The authenticity of the note is not known and the signature does not tally with VGS' signature as available in his annual reports."