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To those that think doing business is easy in India


tennisluvr

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Cafe Coffee Day founder is the example. He was the son in law of a former CM, even though he couldn't salvage the dying business. 

V.G. Siddhartha, the founder of Cafe Coffee Day, India's largest chain of coffee shops, has been reported missing since Monday evening under mysterious circumstances. He is suspected to have committed suicide, according to media reports.

Siddhartha, who was reportedly on his way to Mangaluru from Bengaluru, got out of his car near a bridge and hasn't been seen since. A police search is said to be underway.

His listed business Coffee Day Enterprises informed the Bombay Stock Exchange this morning that Siddhartha has not been reachable since Monday evening, but didn't elaborate further. The company's stock tanked 20% in the morning trading hours.

 

 

 

Siddhartha apparently wrote a letter to the board of the coffee chain saying he had failed to create the "right profitable business model despite his best efforts." He also wrote that he given it his all and that he was sorry to let down all the people who had put their trust in him. News agency ANI tweeted the letter where he also accuses one private equity firm of pressuring him to buy back shares. Siddhartha wrote, "I fought for a long time, but today I gave up as I could not take any more pressure."

The letter adds: "I am solely responsible for all mistakes. Every financial transaction is my responsibility. My team, auditors, and senior management are totally unaware of all my transactions. The law should hold me, and only me, accountable."

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Quoted by a friend on Facebook: 

Doing business in India is a very treacherous thing. You do not know who will come up with a Googly. There is no listed list of regulations to be followed. Each one interprets in his own way. The mistakes of the department are then put on the business. Red tape and Idiocracy at helm take a Toll and drive them to Bankruptcy

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Shocking to know that his company, Amalgamated beans company is now a $1.5 billion debt company..!!!

This guy is coffee king in India....probably owns the largest coffee plantation in India and exports lion share of beans...

Seems to be another case of funds diversion, the satyam way....

 

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6 minutes ago, snoww said:

Siggu sharam vadilesi Banks Ni cheat chesi . Power lo vunna party lo join ite easy ee kada

Already his Maama joined BJP 3-4yrs back, but they didn't entertain him with any position...so called Srujana & CM Ramesh situation kuda ilaage vuntadhi future lo...

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7 minutes ago, Chinna84 said:

Already his Maama joined BJP 3-4yrs back, but they didn't entertain him with any position...so called Srujana & CM Ramesh situation kuda ilaage vuntadhi future lo...

Party fund ivvaka pothe Ade gathi

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Easy lekunda 25 yrs nadipinda shop ni? Easy lekunda largest exporter ayinda? Mindtree lo 3k cr easy ga raleda? Oka roju anna work chesinda mindtree la, 20% partner with 0 investment.edo loss vochindi bank asked to pay loans easy ga jump 

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32 minutes ago, Android_Halwa said:

Shocking to know that his company, Amalgamated beans company is now a $1.5 billion debt company..!!!

This guy is coffee king in India....probably owns the largest coffee plantation in India and exports lion share of beans...

Seems to be another case of funds diversion, the satyam way....

 

Something is missing unknown to the world Cafe coffee day Baga businesses ayithundi kada

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4 minutes ago, cosmopolitan said:

hope... he didn't commit suicide.. 

As per reports, Siddhartha had gone to Chikkamagaluru for a business trip. While coming back, he got off the Innova near Ullal bridge across the Nethravathi River near Mangalore, informed his driver. When he failed to return after 90 minutes, the driver started looking for him and alerted the police. His phone has been unreachable from Monday night.

 

A massive hunt has been launched by police to trace him. Police suspect Siddhartha jumped off the Ullal bridge.

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ma friend Organic fruit juice start chesi learnt the lesson .. it ain't easy .. hidden costs chaala untaay .. ah hidden costs ye contributes to 30% of total investment 

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