Bengaluru, July 31: Missing Cafe Coffee Day (CCD) founder, VG Siddhartha has been found dead, his body was recovered from Netravati river. Siddhartha, also the son-in-law of former Karnataka Chief Minister SM Krishna had gone missing since Monday and his mobile phone was also not reachable. Cafe Coffee Day Founder VG Siddhartha Goes Missing From Mangaluru.

Mangaluru Police Commissioner Sandeep Patil as quoted in an ANI report said, "We found the body early morning today. It needs to be identified, we have already informed the family members. We are shifting the body to Wenlock Hospital. We will continue further investigation."

Check ANI tweet here:

Siddhartha was reported missing from Jappinamogaru, which is very close to Netravathi river and just two to three kilometres from the sea. The founder wrote an emotional letter to employees and board of directors two days before his disappearance. In his letter, Siddhartha said he failed as an entrepreneur.

Siddhartha was spotted last on Monday evening the Netravati Bridge where he had gone for a stroll, a senior Karnataka police officer said on Tuesday. He has been untraceable since then.

Watch video: 

The founder had alleged harassment by the Income Tax department over filing of returns as well as forceful blocking of Mindtree deal and taking possession of CCD shares. In 2017, he was accused of evading taxes, following which raids were conducted by the IT department of Karnataka and Goa region. During the raids, IT found out Rs 650 crore of undeclared income from the Coffee chain and seized all documents relating to it. According to reports, he was upset with the Income Tax torture and wanted to sell 2-3 properties to settle all the debts because he was having more assets than liabilities.

(The above story first appeared on LatestLY on Jul 31, 2019 07:36 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).