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In last letter to CCD board, Siddhartha blamed lenders, tax authorities

Siddhartha said he had never intended to cheat or mislead anybody and that there were adequate assets to repay everybody

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cafe coffee day | V G Siddhartha

BS Web Team  |  New Delhi 

In his last letter to the Coffee Day Enterprises' board of directors dated July 27, its co-founder V G Siddhartha said he had fought for a long time, but was giving up as he could not take any more pressure from one of the private equity partners who was forcing him to buy back shares.

Siddhartha, who is missing since Monday night, had said that "tremendous pressure" from other lenders had made him succumb to the situation. In the letter, Siddhartha also alleged harassment by the previous DG, Income Tax in the form of attaching of shares on two separate occasions to block ...

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First Published: Tue, July 30 2019. 10:55 IST
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