Cafe Coffee Day (CCD) founder VG Siddhartha, also the son-in-law of former Karnataka chief minister SM Krishna, was found dead on Wednesday (July 31) morning nearly 36 hours after he went missing. His body was recovered from a bridge near Mangaluru in Karnataka. The police said an investigation was underway to determine whether Siddhartha took his own life, but a letter allegedly written by him to the CCD board gives away a lot. In the letter, he wrote that “he failed to create the right profitable business model” and that he fought for a long time but eventually he “gave up”. But Siddhartha is not the only example of the dark side of entrepreneurship.
Here are five other entrepreneurs who allegedly committed suicide due to financial strains: (Image: AFP)
Vineet Whig: Encyclopaedia Britannica’s Chief Operating Officer Vineet Whig, 47, killed himself in 2016 by jumping within a deep shaft of the apartment building where he lived in Gurugram. His suicide note allegedly said, "I am taking my own life, no one is responsible. I am unable to cope. I am sorry. I am depressed. I see no way out except for suicide. Yes, I am a coward. I should have faced life.” (Image: Facebook)
Lalit Sheth: India’s leading travel service provider Raj Travels’ owner Lalit Sheth, 56, allegedly committed suicide in 2012 by jumping off the Bandra Worli Sea Link bridge in central Mumbai. Police sources told various media houses then that financial problems might have led him to take the extreme step. (Image: News18)
Angad Paul: 45-year-old Angad Paul, son of billionaire steel magnate Swraj Paul, jumped to death from the balcony of his luxury penthouse apartment in London in 2016 after becoming overcome with depression following the collapse of the family business, Caparo. (Image: PTI)
Sajan Parayil: Sajan Parayil, a 48-year-old Malayali man from Kannur who worked abroad before returning to Kerala to start his own business, ended his life in June this year, allegedly after the local administration of Anthoor refused to grant a licence to his newly built auditorium. (Image: Twitter)
Lucky Gupta Agarwal: Lucky Gupta Agarwal, a 33-year-old techie-turned-entrepreneur, ended his life in 2016 by inhaling nitrogen gas. Authorities said then that despair over the failure of his start-up, Kqingdom ITES Pvt Ltd, led him to take the extreme step.