New Delhi (CNN Business) The head of India's biggest coffee chain has been found dead nearly two days after he went missing.

Police confirmed on Wednesday that they had recovered the body of V.G. Siddhartha, founder of Café Coffee Day, from a river in the coastal city of Mangalore.

Coffee Day Enterprises — the chain's parent company — issued a statement expressing its condolences to Siddhartha's family and hailing his "matchless energy, vision and business acumen."

In a letter purportedly written and signed by Siddhartha, which Coffee Day released on Tuesday evening, the coffee tycoon said he was facing "tremendous pressure" from lenders that led to him "succumbing to the situation." The letter was dated July 27.

"I would like to say I gave it my all," the letter says. "I am very sorry to let down all the people that put their trust in me."

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