After the shocking death of Cafe Coffee Day founder VG Siddhartha, the exact reason for his death has been taunting everyone. Few uttered it all part of the political game whereas, the financial pressure is what led him to take the such an extreme step, few said. But, the latest investigation has bulged the eyes of the people who want to know the debt pile of CCD maker VG Siddhartha.
According to the reports that probed data from stock exchanges and the Ministry of Corporate Affairs reveal that CCD founder has the clogged debt of over Rs 11,000 crore. To explain it in a detail, Siddhartha holds the liability of Rs 6,547 Cr on Cafe Coffee Day as on March 31, 2019. Apart from this, his private group of companies holds outstanding pledges of Rs 3,522 Crores per this business year 2018-19.
Whereas, the four other companies of Siddhartha’s turned out to be mortgaged with worth Rs 3,522 Crores since 2014 and apart from this, moreover he is also the one who stood as the personal guarantees towards loans to the tune of Rs 1,028 crore, which was raised by CDEL.
These all lead to a conclusion that Cafe Coffee Day founder debt pile has reached more or over to Rs 11,000 Crores. However, an official declaration on the same is still awaited.