India woke up to shocking news on 31st July 2019. The forceful death of Veerappa Gangaiah Siddhartha Hegde gave rise to a lot of fears that shook Corporate India. The legendary architect of one of the biggest chain of Coffee shops, Café Coffee Day ended his life for reasons best known to him and the obstinate tax system of India. He was always an introvert man despite being very close to the Who’s Who of the Corporate India and the Political circles of Karnataka.
His tragic death impacted people from various walks of life, alike. He was admired at by many who knew about his journey to success. He was respected by all for the kind of success story he scripted and became an inspiration for millions across the nation. As far as his death note discloses, he stated in his message that he could not stand the troubles that arose due to debts and stress caused by some tax Officials who chased him till his last day on this earth.
Analysts believe that his close ties with a Congress party leader could have triggered the troubles for the CCD owner. The Tax Officials were trying to trace back the properties of a prominent politician in Karnataka by investigating his ties with the Corporate Sector and all those who were visibly seen moving closely with the politician. It also is believed that they were trying to investigate the reasons behind Siddhartha’s close ties with Political and Social figures.
Whatever could be the reasons, the rules of Tax implications never remain the same for the Who’s Who of this country and the law-abiding citizens. There are many more unknown stories which reveal similar situations like those of Siddhartha, across the Corporate World but don’t come to the forefront for the fear of social stigma and embarrassment. The likes of Nirav Modi, Mehul Choksi, Vijay Mallya and many others seem to be unfazed about the kind of humiliation they faced at the hands of the system and Indians; else they too would have done what CCD owner did. Is the Tax system of India punishing those who respect the Law?
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