CCD Founder, VG Siddhartha’s Death Throws Light On The Reality Of Entrepreneur World

As Indians we positive do love our cup of espresso or tea, a few of us can not kick-start the day with out having it, proper? If we recall our love for espresso particularly, we’ll notice that we’ve all the time liked the caffeine drink solely once we had it throughout the confined partitions of our residence. Ask anyone round you, “When did you begin consuming espresso outdoors? Which was the primary espresso store you paid a go to to?” We are so positive that no less than three-fourth of them would reply that their first cup of cappuccino was from Café Coffee Day! Known higher by the abbreviation of CCD, Café Coffee Day in all probability pioneered the trend of “Made in India” a long time again. It was our nation’s very personal rising Indian Café chain beneath Coffee Day Global Limited.

CCD gained reputation, particularly among the many children, due to its vibrantly designed cafes that present a comfortable ambiance for both spending an excellent time with associates or particular ones. They say that the tagline that accompanies a model does almost half of the advertising work and that’s precisely what CCD’s tagline, “Loads can occur over espresso” did. While all of us, as prospects of CCD, would possibly solely be awestruck by the whopping 1,752 variety of cafes that CCD has opened in India; none of us had been conscious of the difficulty brewing throughout the firm. However, with the sudden news of CCD Founder-Chairman VG Siddhartha going lacking on July 29, the entire nation and even the world had been shocked.

The Mysterious Disappearance Of VG Siddhartha

While most of us had been battling the Monday blues on July 29, Siddhartha went lacking and this news created storm everywhere in the nation as he was the founding father of India’s largest espresso chain Café Coffee Day. He is alleged to have left Bengaluru to go to Sakleshpur in Hassan district of Karnataka. On his manner, he requested his driver, Basavaraj Patil, to move to Mangalore as a substitute. As they approached Mangalore, Siddhartha requested his driver to cease by the Ullal bridge and informed him that he needed to go for a stroll. The driver says that Siddhartha walked in direction of the bridge and didn’t return. After ready for an hour and calling Siddhartha’s cellphone a number of occasions, which was switched off, the motive force panicked and knowledgeable the members of the family of Siddhartha and likewise lodged a police criticism.

Around 6 A.M. the subsequent day (July 30th), intense search operations had been carried out throughout the Netravati river to seek out Siddhartha. The search operations had been suspended at evening. In the wee hours of the subsequent morning, on 31st July, almost 36 hours after Siddhartha went lacking, his physique was discovered floating by the shores of the Netravati river. The physique was discovered and fetched by the fishermen. The news concerning the physique being discovered saddened many entrepreneurs worldwide and his CCD household was devastated.

Siddhartha’s Letter To His CCD Family

While the search was being carried out for his physique on Tuesday, a purported final letter that Siddhartha wrote to his staff began doing rounds on social media. The letter fairly actually indicated the mountain of debt Siddhartha’s enterprise was impaired with. In his letter addressed to the Board of Directors and Coffee day household, Siddhartha stated, “I’ve didn’t create the fitting worthwhile enterprise mannequin regardless of my greatest efforts. I want to say I gave it my all. I’m very sorry to let down all of the people who put their belief in me. I fought for a very long time however as we speak I gave up as I couldn’t take any extra strain…” The letter, which was tweeted by ANI additionally stated, “…I couldn’t take any extra strain from one of many personal fairness companions forcing me to purchase again shares, a transaction I had partially accomplished six months in the past by borrowing a big sum of cash from a buddy. Tremendous strain from different lenders led to me succumbing to the state of affairs. There was plenty of harassment from the earlier DG earnings tax within the type of attaching our shares on two separate events to dam our Mindtree deal after which taking the place of our Coffee Day shares… This was very unfair and has led to a critical liquidity crunch.” (1)

Amongst all of the hypothesis concerning the authenticity of the letter, The Coffee Day Enterprises nodded that it was an genuine letter. However, the Income Tax Department claimed that the letter wasn’t genuine as Siddhartha’s signature didn’t match with the signature discovered of their division’s information (2).

How This Incident Threw Light On The Obstacles Faced By An Entrepreneur

Siddhartha’s household ran their espresso enterprise for greater than 130 years. When he took over the enterprise, he arrange the CCD chain in 1996. His enterprise flourished and his ABC (Amalgamated Bean Company) is at present India’s largest exporter of inexperienced espresso as nicely. So, what might have gone fallacious right here that led him to take such an excessive step?

Every entrepreneur, regardless of how small or massive, has his/her enterprise undergo n variety of ups and downs. There are battles with the market, there are challenges with dealing with the earnings tax issues, and naturally, there are buyer satisfaction hurdles as nicely. Owing to no matter news concerning the motive behind this excessive step of Siddhartha is doing rounds, all we will confer is that Siddhartha saved most of his worries and issues to himself. He actually had this storm intensifying with each minute behind his calm demeanor that none had been conscious of.

Remember that if you’re an entrepreneur, you might be instantly or not directly contributing to the numerous lives of individuals on the market and subsequently, you could by no means be sorry concerning the failures you face. Yes, you began with a plan that you simply thought was fool-proof for no less than the subsequent one or twenty years and that didn’t work out. In occasions like these, it is advisable to recall the darkish phases you’ve sailed by means of efficiently. This path was chosen by you and solely you’ve got the facility to stroll on it until the tip.

After the demise of VG Siddhartha, we aren’t seeing individuals popping out and speaking something that’s sick with regard to him. Everybody is barely praising this man’s virtues and the way good an individual he was. So, if you happen to’re a buddy or a partner or are associated to an entrepreneur in any manner, assist them. Sit and speak to them everytime you sense that they’re stressed or disturbed. All it takes is psychological assist to run a enterprise and keep alive. For now, all we need to say is R.I.P. the Coffee King of India. We are all happy with you.

And for the Café Coffee Day household, if you happen to test their social media pages, you’ll see the black emblem that they’ve put up mourning their founder’s demise.

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