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CCD owner’s suicide is a alarming signal for the country

VG Siddhartha Funeral

VG Siddhartha Funeral

Bengaluru: The funeral of Cafe Coffee Day founder VG Siddhartha, whose body was found 36 hours after he went missing from a bridge near Mangaluru in Karnataka, took place at one of his coffee estates at his village in Chikkamagaluru district on Wednesday evening. Hundreds of people, including Karnataka Chief Minister BS Yediyurappa, senior Congress leader DK Shivakumar and other senior politicians, attended the funeral. The 60-year-old businessman was the son-in-law of former Karnataka chief minister SM Krishna.

VG Siddhartha’s body was found by two fishermen, floating in the backwaters of the Netravathi river this morning. It was handed over to his family after an autopsy.

Suicide Letter

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His sudden disappearance came as a surprise and caused a loss of over Rs 800 crore in the market capitalisation of the listed Coffee Day Enterprises. Day before he went missing, Mr Siddhartha, 60, had reportedly written a letter to board members and employees of Cafe Coffee Day. The letter – accessed by news agency ANI – alleges harassment by an income tax officer and expresses regret for not being able to create “the right profitable business”.

He also said that he was under “tremendous pressure” from one of “the private equity partners”.

The investigating authorities said that the letter pointed to suicide.

Business men in India are harassed a lot

Business in India is highly prone to risk due to Unpredictable actions of Govt, Wrong notions of Courts, Market conditions, very thin profit margin, High competitiveness. High cost of funds and near zero liquidity facility to small businesses. And Top of that any businessman who is struggling or failed is treated as a Criminal in India.

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Banks and other institutions with govt and/Or  private agencies harasses them a lot and brands them as traitor to country and fraud. Indian society has wrong notion about a Businessman.
The overall economy is in bad shape with the common people suffering the most. Industry and agriculture and creation of employment is the future of our country. If industry is demoralised, then there will be no economic and employment growth. As a result, more and more people will become jobless.
Business is prone to uncertainties and We need a law to protect business and Businessmen.
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Small and mid size businesses are ruined by big corporate and Govt tax laws and govt agencies.
They does not have any backing or guidance from govt agencies . They do not have exposure to liquidity and they do not find any support from courts also if there liquid money get jammed in big Companies or small.
Businessmen are also important part of the Indian society and political parties must realise this.
#Siddhartha route is alarming ..

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