[.sushilkumar]

With due respect to the departed soul. News is that he got involved with few hawala transaction. Quite possible unknowingly.

Mystery over CCD founder VG Siddhartha's disappearance continues: From signature mismatch to Hawala link, is this what led to it?

[aargee]

Originally Posted by tht'snotME

Honestly i don't understand why successful businessmen get involved with the politicians of dubious nature

It's the other way round; any politician will always look out where the money is, which is obviously with businessmen. If you look the history as well, most merchants would have close affinity with Kings as well. Those days it was information, prize & probably a little bit spying. It's nearly the same these days.

Originally Posted by tht'snotME

I hate watching the news channels

Yes, please stop!! High time!! If you stop watching news channels, stop reading newspapers, you'll be surprised on 2 things...
1. You're having a peaceful life & a big task list to accomplish in your life
2. No matter what, the negative news still reaches to your ears somehow

PS - If you start watching DD news, you'll start believing that you're living in one of the most peaceful times with lot of progress the nation is making

PPS - Please excuse me with just one OT here. Why I had to say above is, there's no point following any news these days because there's going to be a lot of mixed messages that start with "I'm no way...but...", "Although I've no affinity with...but..." floating around in which no one will be able to distinguish the truth, which becomes easy to bury.

[Miyata]

The issue now becomes that the man isn't there to defend himself against smears and mud-slinging from various sources (IT, GoI, etc.). Any chance of fair, unbiased trial will not be possible any more.

More and more we will only see his end of the short-comings and defects getting highlighted. Will even be blown out of proportion with no one to check those. Truth will be hidden with piles of lies and smears. All of it to only be forgotten soon enough until the next victim comes about.

If the authorities are so keen on the tax-revenues, the first place to start is plugging the leaks in their revenue bucket. From the perspective of a common man, every project is yet another avenue for getting more holes into that tax-revenue bucket. The bucket leaks faster than it can be filled.

[jaaz]

Originally Posted by aargee

It's the other way round; any politician will always look out where the money is, which is obviously with businessmen.

Sometimes, they force you to go in a wrong direction. Businessmen, get mesmerized with more money and Power.

Originally Posted by aargee

PS - If you start watching DD news, you'll start believing that you're living in one of the most peaceful times with lot of progress the nation is making

Not only DD, 95% of Private Channels too, are all sold.

Originally Posted by Miyata

If the authorities are so keen on the tax-revenues, the first place to start is plugging the leaks in their revenue bucket.

More than 900 Journalists across the world, worked for a year and compiled a list of Money Launderers, in which there are more than 300 names of Indians. They got all the details on a platter. Many went to Jail across the world, 2 Presidents had to resign, but No action in India.

[BackInTheFold]

While there will likely be many narratives that will swirl around the deceased gentleman, particularly given how he unfortunately passed away, here are my takeaway's:

• He built a Starbucks like brand, streamlined trade in coffee and was generally a big benefactor of the coffee growing Chikmagalur
• He was uniformly considered unassuming and simple - traits/labels that are unfortunately not common among many of his wealth and stature
• He was also undoubtedly politically well connected
• He was a wheeler dealer. CCD, as a stock, has been trading at a discount considering its brand value. The most common explanation is that it houses many disparate businesses (coffee chain, wealth management, hospitality etc.) in entities with opaque cross holdings. While the same could be said of Reliance etc., in CCD's case, the leverage was much higher

On balance, I think his troubles indicate more about the latent debt crisis that we have on our hands in India - I think that he was under great pressure for repayments which turned out to be inexorable.
Also, before calling his views on his tax troubles as tax terrorism, one should balance them out with views like this
RIP! May his family and friends find solace and closure

[CliffHanger]

Such an amazing personality and aura even in interviews.

Constantly piling pressure inclining towards wrong-doing.

Concluding Life saying Failed as an Entrepreneur.

Collective failure of Humanity in my opinion.

Rest in peace the lovely soul.

[wheelguy]

Don't know much about him until now, don't know the truth about what went wrong and who is responsible for it, but feeling sad for his demise. May he rest in peace.

[Akib Khan]

Received via whatsapp.
Shows the respect people still have for him

[dailydriver]

Yesterday, there was a memorial service held in Siddhartha's memory at Chikkamagaluru. I could see people from all walks of life attending the same. Though the speakers on the stage were doing what was expected of them at such functions, the reactions of the audience was worth observing. Most of them had never seen the departed; he had been known only through his work and yet everyone was feeling sad. I very clearly saw many people shed tears openly.

Siddhartha was and remains an institution, specially for the folks of his native district. His death has created a void that is impossible to fill.

The below photo was taken at a village junction. Goes on to show the love and respect people still have for him.

[pdpyen]

Originally Posted by Akib Khan

Received via whatsapp.
Shows the respect people still have for him

Originally Posted by dailydriver

Yesterday, there was a memorial service held in Siddhartha's memory at Chikkamagaluru.

Siddhartha was and remains an institution, specially for the folks of his native district. His death has created a void that is impossible to fill.

The below photo was taken at a village junction. Goes on to show the love and respect people still have for him.

Hello, thanks for this post. Many did not know about him till his recent demise. Some of them have his pictures at their homes and pray that his soul rests in peace. Hope his family will be able to overcome the loss soon.

[rbp]

Just got news, Siddartha's father passed away today, I guess his father never got to know about his sons demise.

[dailydriver]

Originally Posted by dailydriver

Goes on to show the love and respect people still have for him.

This update was long due.

Two years ago, I had visited a park near Mudigere got up in memory of V G Siddhartha. It houses a statue of the departed soul and serves as a mnemonic for his accomplishments in business and life.


A video showcasing the park is on YouTube.

https://m.youtube.com/watch?v=2KjTLlJEAwY

Location: https://maps.app.goo.gl/yjzefG8y69qjnKyD9

[jaaz]

Thanks for posting. Visited many times, but never bothered to take pictures. But, we do take a Coffee break in the cafe next to this park.

In the last 5-6 years, close to 10 lakh, high net-worth Indians have surrendered their passports and taken foreign citizenship. These are Indians who can individually, create Jobs to anywhere between 100 to 2,000 unemployed youth.

Probably, they didn't want to end up like Mr. Siddhartha. Good person caught up in the web of dirty politics.

[dailydriver]

AVRS is a school located in the outskirts of Chikkamagaluru. It was a dream project of VGS. Although a little posh and therefore out of reach for the commoners (much like CCD ), it is known for its serene campus and multi-pronged approach to education.

I have visited the school a couple of times earlier, but today was different. For, I was there to witness the national finals of the V G Siddhartha Memorial Quiz - Season 2. Had the opportunity to see Mr. Giri 'PickBrain' Balasubraniam live in action, forcing the finalists and the audience to the edge of their seats with his tantalisingly deceptive but logically sensible questions.

Dr. Tharoor and PickBrain on stage

The first prize was One lakh rupees and a huge trophy; with three runners up bagging an iPad each. Dr. Shashi Tharoor, MP was the guest of honour.

The event was well organised and attended.

Post the program, everyone was offered snacks and beverages. The Hazle Nut favoured Coffee Day Cold Coffee reminded me of the journey of Mr. Siddhartha from a little village in my district to the near top of the business world.

The Cold Coffee that was the trigger for this post

Returning home, I quickly took a look at the CCD outlet located bang opposite to the ABC offices (https://maps.app.goo.gl/1e6zy7eTyzG3C9WY8). This, as I remember from my childhood, was one of the first CCDs established. Sadly, like many others of its ilk, this piece of history too was closed. The To Let board on the glass front seemed to cry aloud how the system and the man let each other down and how what was once a landmark is struggling for its very existence now.

Like many times in the last couple of years, I was left wondering:

Couldn't he have pushed himself a little more, waited a little longer, struggled a bit more? Would it not have been better for him to take a break over a cuppa and indulged in a bit more deliberation during his last journey? Had he done that, A lot can happen over coffee might have become uber meaningful in his own life!

[dailydriver]

July 29, 2024 marks five years of V G Siddhartha's death. As it happens with many high profile cases, the circumstances leading to and the manner of his death still remain unclear-at least to the outside world.

A few posts on the forum about the general decay in the quality of CCDs and an adulatory article in the local media reminded me of the lengths he had gone to and the distances he had covered in the world of business. Yet, that irrepressible human sentiment of overambition seems to have contributed to his gradual decline and death.

Although he had a good team of researchers and accountants (a couple of whom are still sticking around), his hubris was perhaps in not nurturing the next line of leadership that could hold the reins in his absence. All corporate honchos running an unitary tight ship would do well to pick up some lessons from his life story.