Authorities in Southern India recovered the body of coffee baron V.G. Siddhartha...
MANGALURU/BENGALURU - Authorities in Southern India recovered the body of coffee baron V.G. Siddhartha floating in a river on Wednesday, two days after his disappearance sparked speculation he was under intense financial strain.
Siddhartha was traveling to Mangaluru, a port city about 350 km from India’s tech hub Bengaluru, on Monday when he asked his driver to wait for him on a bridge while he went for a walk, according to police.“We found the body about half a kilometer from the sea,” said Ritesh D’Souza, 34, a local fisherman who helped retrieve Siddhartha’s body. Authorities declined to say whether they were treating his death as suicide or foul play.
Siddhartha’s letter also mentioned hidden transactions that even auditors and senior managers were unaware of. Reuters was not able to confirm the authenticity of the letter, which was available on social media and published by local media. The government did not immediately respond to a request for comment on the opposition allegations. The Income Tax department issued a statement on Tuesday saying Siddhartha had failed to disclose some income and it stressed that authorities’ actions were normal.
But his Coffee Day Enterprises Ltd recently faced queries over outstanding debt, competition from trendier rivals, and scrutiny from tax authorities over unpaid dues.
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