Coffee Day Enterprises confirms Siddhartha's absence to BSE, NSE

Pic/ANI

The company which owns Cafe Coffee Day, Coffee Day Enterprises confirmed the absence of its Chairman and Managing Director V G Siddhartha and wrote to National Stock Exchange(NSE) and Bombay Stock Exchange(BSE).

"This is to inform you that V G Siddhartha, Chairman and Managing Director of Coffee Day Enterprises Limited has not been reachable since yesterday evening. We are taking the help of concerned authorities. Company is professionally managed and led by a competent leadership team, which will ensure continuity of business," informed the letter to both the stock exchanges.

Siddhartha is son-in-law to Former Karnataka Chief Minister S M Krishna. Siddhartha has been missing since last evening from Mangaluru.

After the founder was reported missing, Coffee Day Enterprises shed 20 per cent to trade at Rs 154.05 per share.

Also read: I gave it my all, sorry to let down people: V G Siddhartha's letter to board

According to a senior Karnataka police officer, Siddhartha was last seen on the Netravati bridge on Monday evening where he had gone to take a stroll.

The police have launched a search operation and a dog squad and inflatable boats have been deployed.

The police commissioner said, "We used the dog squad and it stopped at the middle of the bridge. We are taking help of the local fisherman to search in the river. Everyone that he had spoken last is being contacted for relevant information".

Also read: CCD founder VG Siddhartha goes missing in Mangaluru, Twitterati reacts

(with inputs from ANI)

Catch up on all the latest Crime, National, International and Hatke news here. Also, download the new mid-day Android and iOS apps to get the latest updates

Edited by mid-day online desk with inputs from Agencies