The body of Café Coffee Day Chairman and Managing Director V G Siddhartha, who had gone missing, was found on Wednesday in the Netravati river in Dakshina Kannada district of Karnataka after 36 hours of intense search, officials said.
The body had washed ashore near Ullal and was fished out by local fishermen.
Mangalore MLA U T Khader said friends and relatives have confirmed that the body is of Siddhartha.
Here are the updates:
2:45pm: The Congress's Karnataka unit sought an impartial investigation into the death of V G Siddhartha, saying "the invisible hands that ended his life" should be uncovered.
2:07pm: Coffee Day Enterprise names S.V. Ranganath as Interim Chairman. Next meeting of the Board of Directors scheduled to be held on August 8.
11:18am: Former Chief Minister of Karnataka and Congress leader Siddaramaiah called for an "impartial and fair investigation into the death of CCD owner VG Siddhartha.
11:05am: Karnataka Chief Minister BS Yediyurappa expressed shock and paid heartfelt condolences on his death. "My heart goes with the bereaved family and may God rest his soul in peace," said BS Yediyurappa in a message.
10:40am: The last rites of CCD owner VG Siddhartha will take place at his father's estate in Belur, said his close aide Sringeri MLA T D Rajegowda.
10:30am: The popular retail chain Cafe Coffee Day (CCD) decided to shut shop on Wednesday across the country in memory of V.G. Siddharatha, reports said.
8:00am: Siddhartha's body was found on Wednesday in the Netravati river in Dakshina Kannada district of Karnataka after 36 hours of intense search
July 30, 2019
5:29PM: Cafe Coffee Day Enterprises holds an emergency board meeting following the disappearance of founder V G Siddhartha. The board reviewed the letter, purportedly signed by Siddhartha and shared copies with relevant authorities.
5:05pm: The Income Tax Department has denied charges of harassment during their probe against Siddhartha. PTI quoted official sources as saying that the the provisional attachment of shares was made by the department to protect the "interests of revenue" in cases of large tax evasion and the action was based on "credible evidence" gathered in the search or raid action that was undertaken against the Bengaluru-based group in 2017.
"The department has acted as per provisions of the Income Tax Act," sources told PTI.
4:49pm: Senior Congress leader D K Shivakumar said he found the disappearance of Siddhartha "utterly fishy". "It's unbelievable that a courageous man like him would resort to this," Shivakumar tweeted. "However, I find this (the disappearance) utterly fishy and urge that a thorough investigation be conducted into this matter," he said.
3:37pm: V G Siddhartha fetched Rs 3200 crore from sale of Mindtree shares, but paid only Rs 46 crore tax out of total Rs 300 crore: PTI quoting sources
3:36pm: Income Tax department acted as per law in case against CCD promoter V G Siddhartha, news agency PTI quotes official sources as saying
2:03 PM: Former PM HD Deve Gowda meets Former Union Minister SM Krishna at his residence. Krishna's son-in-law and owner-founder Cafe Coffee Day VG Siddhartha has been missing from Mangaluru since yesterday.
12:55pm: Janata Dal (Secular) leader HD Deve Gowda arrives at the residence of SM Krishna in Bengaluru (ANI Photo)
12:35pm: Indian Coast Guard's ICGS Rajdoot to patrol off old Mangalore Port & maintain lookout close to harbour mouth, reports ANI
11:46am:
11:19am: BJP MP Shobha Karandlaje met MoS Defence Shripad Y. Naik and sought help of coastgaurd and central forces to find Siddhartha. She has also asked Home Minister Amit Shah for central govt's help to trace Siddhartha.
11:00am: Coffee Day Enterprises has confirmed that Siddhartha has been missing since Monday evening. Shares of Coffee Day Enterprises tanked 20 per cent and hit the lower circuit limit as well as 52-week low of Rs 154.05 apiece on BSE.
10:30am: A letter written by Siddhartha to CCD employees and Board of Directors says," “I fought for a long time but today I gave up as I could not take any more pressure from one of the private equity partners forcing me to buy back shares, a transaction I had partially completed six months ago by borrowing a large sum of money from a friend.”
10:22am: "The help of local fishermen is being taken in the search. We are checking who all he spoke to over phone," Mangaluru Police Commissioner Sandeep Patil said.
10:20am: More than 200 policemen and divers on about 25 boats were carrying out searches for him. The deputy commissioner said that sniffer dogs have also been pressed into service.
