CCD founder VG Siddhartha's body found from Netravathi river
Updated : July 31, 2019 08:06 AM IST
A letter reportedly written by Siddhartha to the CCD board emerged on Tuesday, in which he said that he failed to create the right profitable business model despite taking best efforts.
He blamed "pressure from one of the private equity partners", "pressure from other lenders", "harassment from the previous DG income tax" and "serious liquidity crunch" for his 'failure'.
Coffee Day Enterprises on Tuesday released a statement saying it is formulating appropriate steps to ensure business operations are unaffected.
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