Curious case of CCD founder: V G Siddhartha's complete family tree explained
New Delhi, July 30: It has been a grim Tuesday ever since the news broke about the missing of founder of India's largest homegrown (Cafe Coffee Day - CCD) While the company comfirmed, in a regulatory filing, that the V G Siddhartha was unreachable since Monday evening, many believe he might have committed suicide.
Siddhartha was reportedly last driven to a bridge across the Netravathi River near Mangaluru, about 375 km from the state capital of Bengaluru. He got down from the car while talking to someone on the phone and failed to return even after a whole hour.
Various news reports have claimed that all was not well with Siddhartha as he was under regulatory scanner for a recent deal.
On Wednesday, Siddhartha's body was found dead in the Netravati River. His body was recovered by fishermen from near the Hoige Bazaar in Mangaluru.
Son of a coffee plantation owner, V G Siddhartha was born on 1959 in Karnataka's Chikkamagaluru and started his career as a management trainee trading in Indian stock market at JM Financial under the tutelage of Mahendra Kampani in 1983, after completing his masters' degree in Mangalore University. He had planted banana trees on 3,000 acres (1214 ha) and planned to export bananas.
Siddhartha's wife: Malavika
Siddhartha is married to Malavika Krishana. She is a daughter of former Chief Minister of Karnataka and BJP leader S M Krishana. V G Siddhartha is a son-in-law of veteran BJP leader S M Krishna. He has two children. He has a son named 'Ishan' and a daughter named 'Amaryta'. There is not much known about his other family members.
V G Siddhartha hails from the family of a coffee-growing business of Karnataka. He completed his primary and secondary education from his hometown, Chikkamagaluru. In his young and college days, Siddhartha had joined the NCC and wanted to be a part of the Indian Army so that he could serve the country.
After a bachelor degree. Siddhartha obtained a master degree in economics from the Mangalore University, Karnataka. After completing masters, V G Siddhartha joined J M Financial Limited in 1984. He worked as the trainee in portfolio management and securities trading on the Indian stock market. He got training under the vice-chairman Mahendra Kampani. At that time, V G Siddharth was 24 years old (in 1984). He worked there for two years.
Siddhartha returned to Bangalore and his father gave him money to do the business of his choice. Businessman V G Siddhartha bought a stoke market card for RS 30,000 along with a company called Sivan Securities. Later It was renamed in Way2wealth Securities Ltd. Moreover, Its venture capital division became known as 'Global Technology Ventures' in 1984. The Global Technology Venture became a highly successful investment banking and stockbroking company.
V G Siddhartha has started his coffee selling company ABC (Amalgamated Bean Company) in 1996 with a RS 60 million turnovers. He also bought an ailing coffee curing unit in Hassan worth of RS 40 million. Currently, It has an annual turnover of RS 25 billion. ABC is India's largest exporter of green coffee.
He set up a cafe in 1996. It became very famous in India with the name 'Cafe Coffee Day'. Currently, V G Siddharth has more than 1550 Coffee Day outlets in India.
According to the Forbes reports, V G Siddhartha is worth more than 1.15 billion dollars and has shares in a tech company Mindtree until March 2019 when he sold them to L&T.
Facts about VG Siddhartha
Siddhartha smoke?: No
Siddhartha drinks alcohol?: Not Known
He is very much influenced by the Swami Vivekanand.