VG Siddhartha's body has been recovered from the Netravati River.

The body of Cafe Coffee Day owner VG Siddhartha has been found. The body was recovered by a group of fishermen from the Netravati river, quite far away from the bridge he was seen on last.

Siddhartha went missing on Monday evening from the bridge over Netravati River. A local fisherman said on Tuesday that he had heard someone jump into the river on Monday evening.

The body was finally found around 6:30 am on Wednesday morning after he went missing at 6:30 pm on Monday.

FOLLOW UPDATES ON THE DEATH OF VG SIDDHARTHA

Deputy Commissioner of Dakshina Kannada Sasikanth Senthil said, "A body has been found and it appears to be of Cafe Coffee Day owner VG Siddhartha."

Police has moved the body to a hospital and will be waiting for the family to confirm the identity.

The Coast Guard, NDRF and Navy joined the search operations in the Netravati River on Monday to look for Siddhartha but failed to find a trace. The dog squad had caught a whiff of Siddhartha on the bridge, leading the police to suspect that the businessman had committed suicide.

Siddhartha had left from Bengaluru to Sakleshpur in Hassan district on Monday afternoon but asked his driver to turn towards Mangaluru on the way.

He was last seen near a bridge on Netravati river in Dakshina Kannada district on Monday night.

The driver, Basavraj Patel has said in his statement that Siddhartha had told his driver that he was going for a walk near the bridge and asked him to wait at a distance.

The coffee tycoon who founded the country's first coffee chain is also the son-in-law of former Chief Minister SM Krishna.

After the news of his disappearance broke out on Monday morning, a letter purportedly written by Siddhartha, addressed to the CCD Board and family surfaced.

In the letter, Siddhartha had written that he was giving up as he had failed as an entrepreneur and was struggling with the business.

Siddhartha had also alleged a lot of harassment by the previous DG of the Income Tax Department in this letter.