Chairman of the Mahindra Group, Anand Mahindra apart from being famous for his work, is also quite famous for his social media presence. Hours before Cafe Coffee Day founder VG Siddhartha’s body was found, industrialist Anand Mahindra had a word of caution for entrepreneurs whose businesses may not have taken off.
Reacting to the news of the coffee baron’s disappearance, Mr Mahindra tweeted he did not know him personally and that he did not know about Mr Siddhartha’s financial circumstances. Two days before his disappearance, Mr Siddhartha had reportedly written a letter to his employees that revealed he was in deep debt.
The chairman of Mahindra Group said entrepreneurs should not let their business failure to destroy their self-esteem. In his tweet he wrote “I did not know him & have no knowledge of his financial circumstances. I only know that entrepreneurs must not allow business failure to destroy their self-esteem. That will bring about the death of entrepreneurship.”
I did not know him & have no knowledge of his financial circumstances. I only know that entrepreneurs must not allow business failure to destroy their self-esteem. That will bring about the death of entrepreneurship. https://t.co/H4ysr8Ov3U
— anand mahindra (@anandmahindra) July 30, 2019
VG Siddhartha, the founder of India’s largest coffee chain, was found dead on Wednesday morning, 36 hours after he went missing from a bridge near Mangaluru in Karnataka. His body was washed ashore the Netravati river early Wednesday morning.
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”.
Here’s the alleged letter that was written by Siddhartha :
He also said that he was under “tremendous pressure” from one of “the private equity partners”. Siddhartha opened his first CCD outlet in August 1996 in Bengaluru’s most-visited shopping street, Brigade Road. The chain has grown to 1750 stores across India along with 60,000 vending machines, besides presence in Vienna, the Czech Republic, Malaysia, Nepal and Egypt.
He married the daughter of former Karnataka Chief Minister SM Krishna’s daughter, and they have two children.