CCD founder VG Siddhartha, wife did not draw salaries

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CCD founder VG Siddhartha, wife did not draw salaries

Apart from Siddhartha, the non-executive directors who did not draw their salaries include his wife Malavika Hegde, and the Chief Executive Officer of KKR India Sanjay Omprakash Nayar Siddhartha

VG Siddhartha, the Chairman and Managing Director of Coffee Day Enterprises, did not draw any salary. As per the company’s annual reports between 2015-16 and 2017-18, the two promoters drew ‘nil’ compensation from the company. Siddhartha, along with other non-executive directors of the company, were not paid any remuneration during FY16-18.

The non-executive directors who did not draw their salaries include Siddhartha’s wife Malavika Hegde, and the Chief Executive Officer of KKR India Sanjay Omprakash Nayar. Notably, KKR Mauritius PE Investments is the second biggest overseas corporate investor in Coffee Day Enterprises.Siddhartha

Siddhartha, who founded the company in Bengaluru, has been missing since Monday evening. He was last seen near Netravati dam site close to Mangalore. In what is purportedly his suicide note, Siddhartha said that he had “failed to create the right profitable business model” despite his best efforts.Siddhartha

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