Assessing situation after disappearance of chairman V G Siddhartha: Coffee Day

Cafe chain operator Coffee Day Enterprises on Tuesday said it is assessing the situation after its founder and chairman V G Siddhartha went missing and formulating appropriate steps to ensure business operations are unaffected.

The company's board has held emergency meeting following disappearance of Siddhartha and also reviewed the letter purportedly signed by him and shared copies with relevant authorities, the company said in a regulatory filing.

"We are shocked by this development and our thoughts and prayers are in support of his family and loved ones... The board is confident that the professional management of the company and each of the entities in the Coffee Day Group and their respective leadership team will ensure continuity of all business operations consistent with past behaviour," Coffee Day said.

The board said it has also "sought the assistance of local and state authorities, who are doing their utmost, and relevant officers of the company are cooperating with the ...