Live updates: VG Siddhartha cremated at his ancestral village in Karnataka
THE TIMES OF INDIA | Jul 31, 2019, 19:35:26 IST
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Live updates: VG Siddhartha cremated at his ancestral village in Karnataka

The Cafe Coffee Day founder VG Siddhartha was cremated at his ancestral village Chetanahalli in Karnataka's Chikkamagaluru district on Wednesday. Following a 36-hour-long search operations, Siddhartha's body was spotted in the backwaters of the Netravathi river early Wednesday. Stay with TOI for the latest updates:
16:03 (IST) Jul 30
KKR says still owns over 6% in CCD; HDFC says no exposure to co since Jan
Global buyout major KKR has said it is "deeply saddened" by the disappearance of VG Siddharth, the promoter of its investee company the coffee chain Cafe Coffee Day since Monday evening. In a purported letter sent to the company board and the employees of the coffee chain he founded, Siddharth had on July 27 said he was under pressure from one of the private equity partners to buy back shares.
15:56 (IST) Jul 30
The Income Tax Department has acted as per law in its probe against Café Coffee Day (CCD) promoter V G Siddhartha, official sources said on Tuesday, after a letter purportedly written by him accused tax authorities of harassment. In the letter, Siddhartha, who has gone missing on his way to Mangaluru from Bengaluru in Karnataka, said there was a lot of harassment from the Income Tax Department in the form of attaching "our shares on two separate occasions to block our Mindtree deal and then taking position of our Coffee Day shares, although revised returns have been filed by us".
15:53 (IST) Jul 30
Siddharth's disappearance: KKR says still owns over 6% in CCD; HDFC says no exposure to comapany since January
Global buyout major KKR has said it is "deeply saddened" by the disappearance of KG Siddharth, the promoter of its investee company the coffee chain Cafe Coffee Day since Monday evening. In a purported letter sent to the company board and the employees of the coffee chain he founded, Siddharth had on July 27 said he was under pressure from one of the private equity partners to buy back shares. KKR in a statement said it had invested in the popular coffee chain nine years ago and part-exited the investment last year.
14:58 (IST) Jul 30
Congress leader Siddaramaiah, former assembly speaker KR Ramesh Kumar meet SM Krishna at his residence.
Congress leader Siddaramaiah, former assembly speaker KR Ramesh Kumar meet SM Krishna at his residence.
14:48 (IST) Jul 30
CCD declares holiday for employees in Karnataka's Hassan
Coffee Day Global Limited located on the outskirts of Hassan has declared a holiday for its employees.
14:31 (IST) Jul 30

One team led by PSI CCB Mangaluru has been sent to Bengaluru for enquiry. They will talk to relatives and find out details. Also, the team will visit his office and see if any information can be obtained

Mangaluru police commissioner Sandeep Patil

14:28 (IST) Jul 30
It was also reported that Blackstone was in talks to buy a majority stake in Siddhartha's real estate venture Tanglin Developments for around Rs 2,800 crore. Tanglin has a tech park -- 'Global Village', which is a 4-million-sq ft tenanted office space located on a 120-acre campus in Bengaluru, and counts Accenture and Mphasis among its tenants, besides having the headquarters of Mindtree.
14:24 (IST) Jul 30
Earlier this year in March, Siddhartha had sold his entire 20.32 per cent stake in the Bengaluru-headquartered IT services firm to engineering major, L&T for around Rs 3,200 crore, which had been utilised to pare some debt from Coffee Day Enterprises' balance sheet.
14:22 (IST) Jul 30
Café Coffee Day had a total debt of around Rs 6,550 crore as on March 2019. The group's coffee business, which includes some exports, reported revenues of Rs 1,777 crore in FY18 and Rs 1,814 crore in FY19.
14:19 (IST) Jul 30
Mudigere MLA MP Kumaraswamy urges inquiry against all those who allegedly troubled Siddartha.
14:18 (IST) Jul 30
Police visit VG Siddartha's ancestral house in Mudigere.
13:33 (IST) Jul 30
The Indian Coast Guard on Tuesday said it has deployed a ship off the old Mangalore port to search for VG Siddhartha, the founder of the Café Coffee Day.
12:49 (IST) Jul 30
Coffee Day updates NSE and BSE of VG Siddhartha missing.
Coffee Day updates NSE and BSE of VG Siddhartha missing.
12:08 (IST) Jul 30
Coffee Day Enterprises shares crack 20 per cent after Chairman goes missing
Shares of Coffee Day Enterprises Ltd dropped 20 per cent on Tuesday after news surfaced that its Chairman and Managing Director V G Siddhartha has gone missing. The scrip tumbled 20 per cent and hit its lower circuit limit as well as its 52-week low of Rs 154.05 on the BSE. At the NSE, shares cracked 20 per cent and fell to its 52-week low of Rs 153.40. In a filing to the BSE on Tuesday morning, the company said "V G Siddhartha, chairman and managing director of Coffee Day Enterprises Limited is not reachable since yesterday evening. We are taking the help of concerned authorities," Coffee Day Enterprises said in a regulatory filing.
11:58 (IST) Jul 30
A group of Karnataka BJP MPs led by Shobha Karandlaje on Tuesday met home minister Amit Shah and sought central help to trace missing Cafe Coffee Day (CCD) founder V G Siddhartha. Karandlaje informed the home minister that Siddartha is a resident of her Udupi-Chikmagalur parliamentary constituency and he is found to be missing since July 29 from Dakshina Kannada district.
11:19 (IST) Jul 30
Teams of NDRF, Coast Guard, Home Guard, fire services and Coastal Police are pressed into service. Also, local fishermen along with their boats are giving full cooperation and supporting our efforts: Police chief Sandeep Patil
11:15 (IST) Jul 30

Coast Guard Hovercraft H198 maintaining position in the Nethravathi river to locate the body. ICGS Rajdoot holding position out in the sea off Nethravathi river mouth, ICGS Savitri Bhai Phule kept on standby to relieve ICGS Rajdoot. Dedicated diver team dispatched by road towards Nethravathi bridge. One more diving team joining hands with district disaster relief management team divers from Bengre

DIG SS Dasila

10:42 (IST) Jul 30
Siddartha was saying 'sorry' in every call he made during the journey from Bengaluru to Mangaluru: Driver to police
10:40 (IST) Jul 30
Hovercraft on the mission too maintaining vigil in and around Bengre islands, says DIG S S Dasila, commander, Coast Guard Karnataka.
10:39 (IST) Jul 30
Coast Guard helicopter, hovercraft to be deployed at the spot to expedite search operation.