TFIPOST हिन्दी
TFIPOST Global
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    From Port of Spain to Patna: Modi’s Cultural Diplomacy Sets Political Tone Ahead of Bihar Elections

    From Port of Spain to Patna: Modi’s Cultural Diplomacy Sets Political Tone Ahead of Bihar Elections

    Tejashwi Uses AI-Generated Ambedkar Video to Offset Lalu's ‘Insult

    Tejashwi Uses AI-Generated Ambedkar Video to Offset Lalu’s ‘Insult’: Can Digital Reverence Replace Real Accountability?

    Tech Users Are Falling in Love with Their Chatbots and It’s Getting Serious

    Tech Users Are Falling in Love with Their Chatbots and It’s Getting Serious

    Mass Deportation from Gujarat: 250 Bangladeshi Nationals Sent Back

    India’s Crackdown Intensifies: 250 Illegal Bangladeshis Deported From Gujarat

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Why GST Search Is Essential For Compliance In Modern Enterprises

    Why GST Search Is Essential For Compliance In Modern Enterprises

    Improving Communication and Collaboration in Distributed Teams: Strategies for Indian Business Analysts

    Improving Communication and Collaboration in Distributed Teams: Strategies for Indian Business Analysts

    Why Every Modern Retail Shop Needs Reliable Billing Software Today

    Why Every Modern Retail Shop Needs Reliable Billing Software Today

    A Guide to Removing False or Negative Content About Your Business Online

    A Guide to Removing False or Negative Content About Your Business Online

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    military reveals china-pakistan-turkey nexus during operation sindoor

    One Border, Three Adversaries: Indian Army Blasts China-Pakistan-Turkey Axis in Operation Sindoor

    INS Tamal marks the end of import of Indian Warships

    INS Tamal Marks End of Warship Imports as India Sets Sail on Atmanirbhar Bharat Path

    UK’s 5th-Gen F-35B Jet Grounded in Kerala Set to Be Airlifted After Weeks of Uncertainty

    UK’s 5th-Gen F-35B Jet Grounded in Kerala Set to Be Airlifted After Weeks of Uncertainty

    Images Reveal Devastating Damage to Terror Camps in PoK

    Satellite Images Reveal Devastating Damage to Terror Camps in PoK After Operation Sindoor

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    when gandhi's statue was removed in ghana

    When Mahatma Gandhi’s Statue Was Removed in Ghana for Being ‘Racist’

    Empower the Global South: PM Modi

    Time to Reshape Global Governance, Empower the Global South: PM Modi

    India Counters China on Dalai Lama Issue, Ministers to Attend Birthday Event

    India Counters China on Dalai Lama Issue, Ministers to Attend Birthday Event

    Three Indians Abducted in Mali During Al-Qaeda-Linked Attack; India Demands Safe Release

    Three Indians Abducted in Mali During Al-Qaeda-Linked Attack; India Demands Safe Release

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    Kanwar Yatra: Four Devotional Paths, One Divine Destination

    Kanwar Yatra: Four Devotional Paths, One Divine Destination

    char dham yatra suspended due to bad weather

    Uttarakhand Suspends Char Dham Yatra Due to Adverse Weather, Prioritizes Pilgrim Safety

    Sanatan Mahakumbh Event Scheduled at Patna’s Gandhi Maidan

    Sanatan Mahakumbh Event Scheduled at Patna’s Gandhi Maidan on July 6

    amarnath yatra 2025

    Amarnath Yatra Begins: First Group of Pilgrims Flagged Off Amid Tight Security

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    India's Tour of Bangladesh Likely Postponed Amid Political Unrest

    India’s Tour of Bangladesh Likely Postponed Amid Political Unrest

    What Is The Best Way To Bet On Tennis?

    What Is The Best Way To Bet On Tennis?

    Pakistan Hockey Team Set to Visit India for Asia Cup 2025: First Time Since Operation Sindoor

    First Time Since Operation Sindoor ; Pakistan Hockey Team Set to Visit India for Asia Cup 2025

    Health Experts Reaffirm Covid Vaccine Safety

    Health Experts Reaffirm Covid Vaccine Safety Amid Concerns Over Sudden Cardiac Deaths

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    From Port of Spain to Patna: Modi’s Cultural Diplomacy Sets Political Tone Ahead of Bihar Elections

    From Port of Spain to Patna: Modi’s Cultural Diplomacy Sets Political Tone Ahead of Bihar Elections

    Tejashwi Uses AI-Generated Ambedkar Video to Offset Lalu's ‘Insult

    Tejashwi Uses AI-Generated Ambedkar Video to Offset Lalu’s ‘Insult’: Can Digital Reverence Replace Real Accountability?

    Tech Users Are Falling in Love with Their Chatbots and It’s Getting Serious

    Tech Users Are Falling in Love with Their Chatbots and It’s Getting Serious

    Mass Deportation from Gujarat: 250 Bangladeshi Nationals Sent Back

    India’s Crackdown Intensifies: 250 Illegal Bangladeshis Deported From Gujarat

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Why GST Search Is Essential For Compliance In Modern Enterprises

    Why GST Search Is Essential For Compliance In Modern Enterprises

    Improving Communication and Collaboration in Distributed Teams: Strategies for Indian Business Analysts

    Improving Communication and Collaboration in Distributed Teams: Strategies for Indian Business Analysts

    Why Every Modern Retail Shop Needs Reliable Billing Software Today

    Why Every Modern Retail Shop Needs Reliable Billing Software Today

    A Guide to Removing False or Negative Content About Your Business Online

    A Guide to Removing False or Negative Content About Your Business Online

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    military reveals china-pakistan-turkey nexus during operation sindoor

    One Border, Three Adversaries: Indian Army Blasts China-Pakistan-Turkey Axis in Operation Sindoor

    INS Tamal marks the end of import of Indian Warships

    INS Tamal Marks End of Warship Imports as India Sets Sail on Atmanirbhar Bharat Path

    UK’s 5th-Gen F-35B Jet Grounded in Kerala Set to Be Airlifted After Weeks of Uncertainty

    UK’s 5th-Gen F-35B Jet Grounded in Kerala Set to Be Airlifted After Weeks of Uncertainty

    Images Reveal Devastating Damage to Terror Camps in PoK

    Satellite Images Reveal Devastating Damage to Terror Camps in PoK After Operation Sindoor

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    when gandhi's statue was removed in ghana

    When Mahatma Gandhi’s Statue Was Removed in Ghana for Being ‘Racist’

    Empower the Global South: PM Modi

    Time to Reshape Global Governance, Empower the Global South: PM Modi

    India Counters China on Dalai Lama Issue, Ministers to Attend Birthday Event

    India Counters China on Dalai Lama Issue, Ministers to Attend Birthday Event

    Three Indians Abducted in Mali During Al-Qaeda-Linked Attack; India Demands Safe Release

    Three Indians Abducted in Mali During Al-Qaeda-Linked Attack; India Demands Safe Release

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    Kanwar Yatra: Four Devotional Paths, One Divine Destination

    Kanwar Yatra: Four Devotional Paths, One Divine Destination

    char dham yatra suspended due to bad weather

    Uttarakhand Suspends Char Dham Yatra Due to Adverse Weather, Prioritizes Pilgrim Safety

    Sanatan Mahakumbh Event Scheduled at Patna’s Gandhi Maidan

    Sanatan Mahakumbh Event Scheduled at Patna’s Gandhi Maidan on July 6

    amarnath yatra 2025

    Amarnath Yatra Begins: First Group of Pilgrims Flagged Off Amid Tight Security

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    India's Tour of Bangladesh Likely Postponed Amid Political Unrest

    India’s Tour of Bangladesh Likely Postponed Amid Political Unrest

    What Is The Best Way To Bet On Tennis?

    What Is The Best Way To Bet On Tennis?

    Pakistan Hockey Team Set to Visit India for Asia Cup 2025: First Time Since Operation Sindoor

    First Time Since Operation Sindoor ; Pakistan Hockey Team Set to Visit India for Asia Cup 2025

    Health Experts Reaffirm Covid Vaccine Safety

    Health Experts Reaffirm Covid Vaccine Safety Amid Concerns Over Sudden Cardiac Deaths

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
  • Economy
  • Defense
  • Geopolitics
  • Knowledge
  • Law
  • Lounge

VG Siddhartha was crushed under the mountain of his debts. Government had very little role to play

Amit Agrahari by Amit Agrahari
31 July 2019
in Economy, Economy1
siddhartha, ccd

(PC: Livemint)

Share on FacebookShare on X

G. Siddhartha Hegde, the founder of Indian café chain Café Coffee Day (CCD) and son in law of former Union Minister and Chief Minister of Karnataka has been found dead in a river. Siddhartha hedge was an energetic entrepreneur who built a multinational company with more than 4,000 crore rupees turnover out of scratches. But his company was in huge debt and he was not able to pay back to the private equity investors.

“I am sorry to let down all the people that put their trust in me. I fought for a long time but today I gave up as I could not take any more pressure from one of the private equity partners forcing me to buy back shares, a transaction I had partially completed six months ago by borrowing a large sum of money from a friend. Tremendous pressure from other lenders lead to me succumbing to the situation,” reads the letter which is claimed to be suicide note of Siddhartha.

RelatedPosts

From a broken wife to a determined CEO: How Malavika Hegde stopped CCD from dying

Modi government should be lauded for reigning in economic offenders, criticising govt in Siddhartha case is short-sighted

Load More

There has been huge furor of tax terrorism by the left-liberal establishment on the suicide of the CCD founder. “If VG Siddhartha letter is genuine (yet to be verified), then it only confirms what bizmem have been saying for a while now: tax terrorism is taking us back to the past, retarding investment/growth. And if this can happen to the son in law of SM Krishna, god help  small bizmen,” tweeted India Today anchor Rajdeep Sardesai.

If VG Siddhartha letter is genuine (yet to be verified), then it only confirms what bizmem have been saying for a while now: tax terrorism is taking us back to the past, retarding investment/growth. And if this can happen to the son in law of SM Krishna, god help small bizmen.

— Rajdeep Sardesai (@sardesairajdeep) July 30, 2019

Given the limited understanding Sardesai have of economics, such stupidity is well expected. The primary reason behind Siddhartha’s decision to end life was huge debt accumulation but  Sardesai wanted to spin it as tax terrorism to target the government.

Another member of the left-liberal cabal made similar claims of tax terrorism. “VG Siddhartha is a hard-working, understated & cheerful entrepreneur. Let’s hope he’s ok & wish SM Krishna family the best. India’s entrepreneurial climate, however, is turning toxic by the day, with tax terror & over-criminalisation added to an economic collapse we keep denying,” tweeted ThePrint founder Shekhar Gupta who came to limelight after fake coup story.

VG Siddhartha is a hard-working, understated & cheerful entrepreneur. Let’s hope he’s ok & wish SM Krishna family the best. India’s entrepreneurial climate, however, is turning toxic by the day, with tax terror & over-criminalisation added to an economic collapse we keep denying

— Shekhar Gupta (@ShekharGupta) July 30, 2019

These journalists and self-proclaimed intellectuals must check the balance sheet of Siddhartha’s company once to get some wisdom on the reasons behind the decision. The CCD founder has taken huge loans in personal capacity. As per a report by the financial daily Livemint, Siddhartha has taken 2,000 crore rupees loan in personal capacity to invest in plantation business.

 “The business was not generating enough cash to service the outstanding debt, which had ballooned because of accruing interest, forcing him to borrow again and again, often at a higher cost to pay existing creditors. However, given the tight liquidity conditions in the market, he was having trouble raising fresh debt,” said a person who spoke on condition of anonymity.

(PC: Livemint)

This 2,000 crore rupees debt along with 6,547 crore rupees on the balance sheet of CCD group was cause of tension for Siddhartha. The IT department conducted raids on the properties of Siddhartha on suspected tax evasion and provisionally attached two million shares of Mindtree held by him. Siddhartha has sold 20.32 percent stake in Bengaluru-headquartered IT services firm for 3,200 crore rupees to L&T in order pay CCD’s debt.

CCD has posted profit in last three fiscal years. The company posted a net profit or 148 crore rupees in FY 18 but the profits posted by the company were not enough to pay the loans accumulated. The loans of 2,000 crore rupees taken in personal capacity were the other big problem for Siddhartha.

(PC: Livemint)

The CCD business was profitable but Siddhartha used the money from this business to invest in stock markets.  “Though he had a good business running in the form of Café Coffee Day, he was diverting money to the stock market from CCD.  His greatest mistake was to divert the money to the stock market from an otherwise smooth running business of CCD. He did not discuss much about his stock dealings as it was more of a personal investment,” said Kris Lakshmikanth, founder and CEO of executive search firm Head Hunters India Limited.

I did not know him & have no knowledge of his financial circumstances. I only know that entrepreneurs must not allow business failure to destroy their self-esteem. That will bring about the death of entrepreneurship. https://t.co/H4ysr8Ov3U

— anand mahindra (@anandmahindra) July 30, 2019

The most sensible response in Siddhartha’s case came from veteran industrialist Anand Mahindra. “I did not know him & have no knowledge of his financial circumstances. I only know that entrepreneurs must not allow business failure to destroy their self-esteem. That will bring about the death of entrepreneurship,” tweeted Mahindra.

Blaming the government or the death of Siddhartha is absolutely stupid and vulture journalism. If he had run from India with such a huge debt, these journalists would have blamed the government, as seen in the case of Mallya and Nirav Modi.

Tags: CCDSiddhartha
Share989TweetSend
Previous Post

After losing her job and getting thrashed on social media, Hindu hater Ira Trivedi is a Sanskari Hindu Nari now

Next Post

The success of Triple Talaq bill has paved the way for further reforms in Muslim Personal Law

Related Posts

Why GST Search Is Essential For Compliance In Modern Enterprises
Business

Why GST Search Is Essential For Compliance In Modern Enterprises

3 July 2025

A business environment demands transparency and accuracy, and staying compliant with tax regulations is more than just ticking a...

Improving Communication and Collaboration in Distributed Teams: Strategies for Indian Business Analysts
Business

Improving Communication and Collaboration in Distributed Teams: Strategies for Indian Business Analysts

2 July 2025

In the 21st-century, digital-first work environment with which we’re presented, distributed teams aren't the future—they’re the now. Indian business...

Why Every Modern Retail Shop Needs Reliable Billing Software Today
Business

Why Every Modern Retail Shop Needs Reliable Billing Software Today

1 July 2025

Today’s retail world is changing fast. Shop owners need more than good products and friendly staff. To grow and...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Currently Playing

Rage on stage: why a police officer resigned quit after CM's outburst

Rage on stage: why a police officer resigned quit after CM's outburst

00:03:40

Right to religion vs duty to identify: where should India draw the line?

00:04:34

Junior Kharge Calls to Ban RSS Amid Karnataka Congress Civil War!

00:10:02

Kerala Muslim Groups oppose Zumba classes for School Children

00:07:21

Crash or sabotage? Aviation expert on ahmedabad plane crash probe.

00:13:37
Facebook Twitter Instagram Youtube
tfipostTfipost.com
Right Wing | News Analysis | Indian Opinion
  • About us
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy
  • Sitemap

©2025 TFI Media Private Limited

No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFIPOST हिन्दी
TFIPOST Global

©2025 TFI Media Private Limited