Shares of Indian coffee shop chain Coffee Day Enterprises Ltd plunged 20% in ear...
FILE PHOTO - V.G. Siddhartha, chairman of Coffee Day Enterprises Ltd, speaks during a news conference in Mumbai, India, October 7, 2015. REUTERS/Shailesh Andrade
BENGALURU - Shares of Indian coffee shop chain Coffee Day Enterprises Ltd plunged 20% in early trading on Tuesday, after the founder and largest shareholder in the company went missing under mysterious circumstances on Monday. Local media reports said VG Siddhartha, the founder of the chain, was on his way to Mangaluru - a port city around 350 kilometers from India’s tech hub of Bengaluru. Siddhartha reportedly asked his driver to wait for him on a bridge, and never returned.
Regional television showed search operations underway near Mangaluru, where the industrialist was last seen. Coffee Day confirmed with the exchanges that Siddhartha has not been reachable since Monday, but did not provide further details.Siddhartha was recently in the news after he sold about 20% of his stake in tech company Mindtree Ltd (
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The rising clout of Indian-AmericansThere may well be an Indian-American president before there is an American Indian one
Read more »
Why I Can’t Live Without My Stainless Steel BowlsKatori are beloved by Indian cooks, but really everyone needs them.
Read more »
the new indian netflix horror everyone’s talking aboutWelcome to everybody’s new Netflix horror obsession: 'Typewriter'.
Read more »
Modi versus Wild: Indian PM to join Bear Grylls in wildernessIndian Prime Minister Narendra Modi is teaming up with British TV adventurer Bear Grylls to venture into India’s wilderness to raise awareness about protecting nature
Read more »
Rape accuser of Indian ruling party lawmaker battles for life after accidentIndian police were investigating on Monday a highway collision that critically i...
Read more »
17 Slow-Cooker Indian Recipes That Are Easier Than TakeoutYou might not know it, but your slow cooker makes a mean chicken tikka masala.
Read more »