Shares of Coffee Day Enterprises Down 20%

Mumbai: The Coffee Day Enterprises hit lower circuit on the BSE during the early trade on Tuesday following reports that V.G. Siddhartha, the company’s founder has gone missing. Siddhartha reportedly went missing late on Monday and is suspected to have jumped off a bridge in Mangaluru. According to reports, a search operation is currently underway while Siddhartha’s phone remains switched off. “This is to inform you that, Mr. V.G. Siddhartha, Chairman and Managing Director of Coffee Day Enterprises Limited has not been reachable since yesterday evening. We are taking the help of concerned authorities. Company is professionally managed and led by a competent leadership team, which will ensure continuity of business,” the company said in a regulatory filing. (IANS)

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