Mangaluru Police To Probe Why Cafe Coffee Day Founder VG Siddhartha Committed Suicide
VG Siddhartha, founder of Coffee Day Enterprises that runs the Cafe Coffee Day chain of coffee shops. (Photo: PTI)

Mangaluru Police To Probe Why Cafe Coffee Day Founder VG Siddhartha Committed Suicide

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With the final forensic report confirming that Cafe Coffee Day founder VG Siddhartha committed suicide, Mangaluru police has now started second phase of investigations in the case to determine what forced him to take the extreme step.

Mangaluru police is examining a letter purportedly written by him before committing suicide. The unverified letter, police sources said, can give definite clues on the reasons for the suicide.

Officials are also collecting information about his family life, business dealings, loans, shares and details of bank accounts. They will also look into income tax notices served to the CCD founder to check whether he was under pressure from the taxman.

On Monday, Mangaluru Police Commissioner PS Harsha said the forensic report of VG Siddhartha’s death corroborates the suicide theory. According to police sources, water was found in Siddhartha's lungs and his death was due to drowning.

Siddhartha, the late chairman of Coffee Day Enterprises Ltd., was fished out dead from the Netravati river on July 31, two days he went missing from a bridge over the river near Ullal town in Mangaluru district. He was cremated the same day at his family estate in Chikmagalur, Karnataka.

On Tuesday, CCD shares rose 3.44 percent to Rs 87.10 apiece on the BSE while the benchmark Sensex gained 0.39 percent to end the day at 37,641.27 points.

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