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Kiran Mazumdar Shaw Condoles CCD Founder VG Siddhartha's Death, Anand Mahindra & Sachin Bansal Back Entrepreneurs

Written By Navashree Nandini | Mumbai | Published:


  • CCD founder VG Siddhartha's body has been found
  • Biocon Chairperson Kiran Mazumdar Shaw expressed her condolence
  • Anand Mahindra said that business failures must not lead to the destruction of an entrepreneur's self esteem

Following Cafe Coffee Day founder VG Siddhartha's body being found on the banks of the Netravati river on July 31, about 36 hours after he went missing on Monday evening, Biocon Chairperson Kiran Mazumdar Shaw expressed her condolence to the family, specifically Siddhartha's wife Malavika and their two sons, as well as the larger family of former Karnataka Chief Minister SM Krishna who is Siddhartha's father-in-law. 

The Biocon Chairperson had expressed concerns over the harassment from tax officers that the owner of the popular chain alleged in his emotional letter to the staff of his company. Tweeting about her concerns on July 30, Shaw had highlighted at least a pair of key submissions made by VG Siddhartha - written about in the most operative part of his letter - where he opens up about the pressure that was placed on him by a private equity partner to buy back shares, as well as from other lenders, and also, his allegation of facing harassment from the DG IT attaching holdings which had the effect of blocking the sale of his Mindtree stock to engineering and construction conglomerate L&T.

READ: Cafe Coffee Day founder VG Siddhartha's body found on the banks of Netravati River in Mangaluru

Business fraternity expressed concern over the disappearance of VG Siddhartha before he was found dead

Ahead of his death, Business tycoon Anand Mahindra said that business failures must not lead to destroy of self esteem. Expressing his concern, Mahindra said that entrepreneurship will die if people allow business failure to destroy self-esteem. 

Anand Mahindra's post refers to Siddhartha's last letter to his board, written on Sunday, wherein he had said that he had failed as an entrepreneur and in setting up a profitable business model.

READ: Flipkart co-founder Sachin Bansal invests Rs 650 crore in Ola

Meanwhile, co-founder of Flipkart Sachin Bansal had also expressed his concern on the disappearance of the CCD owner. He said that he knew Siddhartha personally and Siddhartha has been inspiring entrepreneur and an investor. 

READ: Vijay Mallya Cites VG Siddhartha's Death To Attack Banks & Agencies, Says 'See What They're Doing To Me...'