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Karnataka Deputy Chief Minister <keyword id="144341" type="General" weightage="100" keywordseo="shivakumar" source="Orion">Shivakumar</keyword> stated on Sunday that the result in Telangana is not the victory of the Congress party, but it is the victory of the people of Telangana. Speaking to reporters in Hyderabad, Shivakumar stated, the voters of Telangana wanted a change. Leaders from various states have worked in Telangana to help the Congress MLAs win elections. The people of Telangana have given victory for the creation of the state. They have expressed their gratitude to <keyword id="689" type="General" weightage="80" keywordseo="sonia-gandhi" source="Orion">Sonia Gandhi</keyword>, he stated. In his reaction, the BJP Karnataka President BY Vijayendra stated that a wave in favour of the saffron party has swept the country. Speaking to reporters in New Delhi, he said, "People want PM Modi to become Prime Minister again. The BJP will get majority in the forthcoming Lok Sabha elections. People want national security. They are turning a blind eye to the guarantee schemes, which will finish off the country and are devised to grab power." Former Chief Minister <keyword id="4560352" type="General" weightage="80" keywordseo="bs-yediyurappa" source="Orion">BS Yediyurappa</keyword> in Bengaluru said that the BJP is all set to return to power in Rajasthan and Madhya Pradesh. In Chhattisgarh, the BJP is leading. This result will relegate the Congress party to the corner.

Voters of Telangana wanted a change, says Karnataka Dy CM Shivakumar

<keyword id="489281" type="PERSON" weightage="20" keywordseo="B-S-Yediyurappa">B S Yediyurappa</keyword> on Monday announced his resignation as the Chief Minister of <keyword id="6354780" type="ENTERTAINMENT" weightage="20" keywordseo="Karnataka">Karnataka</keyword>, as his government completes two years in office. The 78-year old, <keyword id="14666" type="ORGANIZATION" weightage="20" keywordseo="BJP">BJP</keyword> veteran said he will submit his resignation to the Governor post lunch. "Don't take me otherwise, with your permission... I have decided that after lunch I will go to the Raj Bhavan and submit my resignation as the Chief Minister to the Governor," <keyword id="421753" type="PERSON" weightage="20" keywordseo="yediyurappa">Yediyurappa</keyword> said with a choked voice, as he turned emotional. "Not out of grief, but with happiness," he said, as he thanked Prime Minister Narendra Modi, <keyword id="318692" type="ORGANIZATION" weightage="20" keywordseo="Union-Home">Union Home</keyword> Minister <keyword id="6355521" type="PERSON" weightage="20" keywordseo="amit-shah">Amit Shah</keyword> and <keyword id="337597" type="COMPANY" weightage="20" keywordseo="BJP-National">BJP National</keyword> President J P Nadda for giving him an opportunity to serve as Chief Minister for two years, despite completing 75 years. There is an unwritten rule in the BJP of keeping out those above 75 years from elected offices. The Chief Minister also said that he will work to strengthen the party and bring it back to power, as per the expectations of the central leaders. Yediyurappa was speaking at an event organised to mark his government's two years in office at Vidhana Soudha, the seat of state legislature and secretariat here. During the speech, Yediyurappa termed his tenure for two years as "trial by fire", recalling that he had to run the administration without cabinet in the initial days, followed by devastating floods and coronavirus among other issues. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/yes-bank-shares-surge-5-after-it-reports-strong-profit-growth/articleshow/84751116.cms">YES Bank shares surge 5% as investors see a ray of hope after bank reported four fold growth in profit</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/healthcare-startup-veera-raises-3-million-to-reach-more-pcos-patients/articleshow/84749847.cms">A Wharton MBA grad and a former GSK exec’s healthcare startup raises $3 million to reach more PCOS patients</a>

BS Yediyurappa announces resignation as Karnataka Chief Minister after completing two years

<ul><li>BS Yediyurappa was sworn in as the Chief Minister of Karnataka in the last week of July.</li><li>However, three weeks later, the cabinet of ministers have still not been appointed.</li><li>Reports suggest that the state government is waiting for approvals from the Bharatiya Janata Party, particularly Union Home Minister <keyword id="6355521" type="PERSON" weightage="20" keywordseo="amit-shah">Amit Shah</keyword>.</li></ul>Karnataka is home to Bengaluru, which proudly calls itself India's Silicon Valley for being home to some of India's most popular startups as well as for grooming the country's technology industry into the force that it is today. The state witnessed one of the most dramatic, and dirty, political power play in the last few months which ended with <a href="https://www.businessinsider.in/h-d-kumaraswamy-government-loses-trust-vote/articleshow/70349719.cms" data-type="tilCustomLink" target="_blank">the fall of an incumbent government</a>, and BS Yediyurappa reclaiming the Chief Minister's seat after winning controversial a trust vote. Yediyurappa even changed the way his name is spelled for good luck. The stakes were too high. Three weeks later, the state still has no ministers. "If Chief Minister B.S. Yediyurappa receives the list of names by Monday night or early Tuesday from Shah, the cabinet will be expanded same afternoon after a meeting of the BJP legislature party at the secretariat before noon," the news agency IANS reported citing sources. The party's high command was busy with the Parliament session including the contentious move to put an end to Jammu and Kashmir's special status. Notwithstanding the economic slump and rising job losses, three weeks is a long time for the legislature to be in a limbo, particularly, when the state has been struck with an <a href="https://www.businessinsider.in/floods-kill-140-in-maharashtra-kerala-and-karnataka-and-there-is-no-end-in-sight/articleshow/70644541.cms" data-type="tilCustomLink" target="_blank">environmental emergency-- floods that killed about 140 people</a> as of August 12. However, Yediyurappa's patience has given many of his rivals ammunition for criticism. Critics of the Bharatiya Janata Party (BJP) have often slammed the party's leadership for keeping decisions centralised. In this instance too, BS Yediyurappa may be a local strongman who battled hard to form the government but he has had to wait for the approval for his nominees from the Union Home Minister Amit Shah. Even now, only about a dozen ministers are likely to be appointed this week. To fill the remaining cabinet posts in the 34-member ministry, Yediyurappa is likely to wait for 6 months in the event of by-elections to the 17 assembly segments from where the Congress and JD-S rebel legislators were disqualified by the previous speaker K.R. Ramesh Kumar in July. SEE ALSO: <a href="https://www.businessinsider.in/rip-vg-siddharthas-death-and-why-former-prime-minister-hd-deve-gowda-cried/articleshow/70464431.cms" data-type="tilCustomLink" target="_blank">A former Prime Minister cried on national TV for VG Siddhartha-- the untold tales of politics and privilege may die with India’s coffee baron</a> <a href="https://www.businessinsider.in/karnataka-government-proposes-construction-ban-in-bengaluru-for-the-next-five-years-because-water-crisis/articleshow/69991514.cms" data-type="tilCustomLink" target="_blank">Bengaluru’s water crisis might make it an expensive real estate market</a>

The state home to India's Silicon Valley may finally get its new ministers-- 3 weeks after government was formed

<ul class="summary-list"><li><keyword id="6354427" type="ORGANIZATION" weightage="60" keywordseo="apple">Apple</keyword> on Saturday reportedly put <keyword id="1930805" type="PERSON" weightage="60" keywordseo="Wistron">Wistron</keyword> Corp, a <keyword id="6362048" type="UNKNOWN" weightage="60" keywordseo="manufacturing">manufacturing</keyword> partner, on probation after workers at a plant in <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword> caused rioted over reduced or unpaid salary. </li><li>Apple and Wistron both acknowledged lapses in payment in October and November, according to <a href="https://timesofindia.indiatimes.com/business/india-business/apple-wistron-admit-to-lapses-in-payments-to-workers-in-karnataka-facility/articleshow/79812917.cms">The Times of India</a>.</li><li>"We have place Wistron on probation and they will not receive any new business from Apple before they complete corrective actions," Apple said in a statement, according to multiple local news reports. </li></ul>Apple on Saturday reportedly said it would temporarily stop giving new business to Wistron Corp., putting its partner on probation after rioting workers at a plant in India caused about $7.1 million in damage.The riots were over reduced or unpaid salaries. "We have placed Wistron on probation and they will not receive any new business from Apple before they complete corrective actions," Apple said in a statement, according to multiple local news reports. Last weekend, about 2,000 workers coming off a night shift <a href="https://www.businessinsider.com/workers-riot-over-pay-factory-making-apple-iphones-in-india-2020-12">destroyed the lobby and other parts</a> of Wistron's <keyword id="6354606" type="COMPANY" weightage="60" keywordseo="iPhone">iPhone</keyword> facilities in Narasapura, India. Apple and Wistron both acknowledged lapses in payment in October and November, according to <a href="https://timesofindia.indiatimes.com/business/india-business/apple-wistron-admit-to-lapses-in-payments-to-workers-in-karnataka-facility/articleshow/79812917.cms">The Times of India</a>. "While these investigations are ongoing, our preliminary findings indicate violations of our Supplier Code of Conduct by failing to implement proper working hour management processes. This led to payment delays for some workers in October and November," an Apple statement said, according to <a href="https://www.newindianexpress.com/business/2020/dec/19/apple-puts-wistron-on-probation-afterpayment-delays-to-workers-in-karnataka-facility-2238464.html">The New Indian Express</a>.Wistron said it would remove its vice president in charge of India manufacturing, according to The Times of India.<div type="image" title="Wistron Apple India Closed Down.JPG" height="3732" width="5376" msid="79815343" hostid="261"></div>Wistron and Apple didn't immediately respond to requests for comment. Last Saturday, images of workers smashing windows, spraying fire extinguishers, and flipping cars spread online.The dispute in Narasapura, a suburb of Bengaluru, started as overnight workers left the Wistron factory early Saturday morning, according to <a href="https://timesofindia.indiatimes.com/city/bengaluru/violence-breaks-out-at-wistron-corps-iphone-manufacturing-plant-near-bengaluru/articleshow/79691511.cms">The Times of India</a>. Workers who had recently had their wages reduced - some by about a quarter - started discussing it on the factory floor overnight, the newspaper said.Some reportedly only received tiny fractions of the pay that had been promised. By morning, the discussion had turned violent."They breached the four main entrance gates, ransacked offices, smashed lockers and desks, and destroyed documents containing details of employees," a police official told <a href="https://www.thehindu.com/news/national/karnataka/iphone-factory-violence-wistron-estimates-43770-crore-in-damage/article33321871.ece">The Hindu</a> on Sunday. About 128 people were arrested, while another 300 were detained for questioning, the official said. <div type="image" title="Tim Cook Apple Congress Hearing.JPG" height="720" width="1280" msid="79815347" hostid="261"></div>After last weekend's riots, Apple sent a team into Narasapura. "We have teams on the ground and have immediately launched a detailed investigation at Wistron's Narasapura facility," Apple said in an email to <a href="https://asia.nikkei.com/Business/Technology/Apple-probes-Wistron-iPhone-plant-in-India-after-violence">Nikkei Asia</a> on Monday. On Tuesday, Wistron said damage at the facility totalled about $7.1 million, according to <a href="https://www.reuters.com/article/us-apple-india-wistron/apple-supplier-wistron-puts-india-plant-damage-at-up-to-7-million-idUSKBN28P054">Reuters</a>. Company and independent auditors have been "working around the clock" to investigate issues at the plant, the Times of India <a href="https://twitter.com/TOIBengaluru/status/1340230435645747205?s=20">reported</a> on Saturday. The Indian prime minister, Narendra Modi, was reportedly "very worried" about the ransacked factory. "We have taken action. It is a very important foreign company and this should not have happened. The PM is also very much worried about this development," BS Yediyurappa, chief minister of Karnataka, told India's <a href="https://www.businesstoday.in/current/corporate/pm-modi-very-worried-about-violence-at-wistron-factory-yediyurappa/story/425205.html">Business Today</a>. Wistron is just one of several foreign manufacturing companies that have chosen to open factories in the suburbs outside Bengaluru. Local politicians, including Yediyarappa, have pushed for it to become a global manufacturing hub. As Wistron scaled its operations in India this year, its HR practices failed to keep pace. "Though 10,500 workers are employed in the factory the HR department has not been adequately set up with personnel of sound knowledge of labour laws," said a government report, according to Reuters.

Apple puts iPhone partner Wistron on probation after rioting workers caused $7 million worth of damage at Indian plant

<ul><li>The recent <keyword id="48088" type="COMPANY" weightage="20" keywordseo="floods">floods</keyword> in <keyword id="13126" type="LOCATION" weightage="20" keywordseo="Maharashtra">Maharashtra</keyword>, <keyword id="6354780" type="LOCATION" weightage="20" keywordseo="Karnataka">Karnataka</keyword>, and Kerala have already claimed 147 lives, and over a million people might turn homeless. </li><li> People claim that they have not seen such destruction in the last 40 years.</li></ul>The recent floods in Maharashtra, Karnataka, and Kerala have already claimed 147 lives, and over a million people might turn homeless. They are entirely cut off from the outside world because of the high water level. The worst-hit areas were Kerala, Karnataka, and Maharashtra. However, floods have also affected Gujarat, Assam and <keyword id="30033" type="LOCATION" weightage="20" keywordseo="Bihar">Bihar</keyword>. The locals have no clue when they are going to get their normal life back. People claim that they have not seen such destruction in the last 40 years, <a href="https://www.youtube.com/watch?v=sCWqknq8zLs">reported BBC</a>. The opposition party, Congress, has reached out to Prime Minister Narendra Modi to provide relief assistance to the flood-affected area. 57 dead in Kerala <a href="https://www.news18.com/news/india/floods-live-updates-karnataka-kerala-maharashtra-bengaluru-amit-shah-kochi-2266985.html">In Kerala, as many as 57 have died and 165,000</a> are living at relief camps, said authorities. Chief Minister Pinaray Vijayan who assessed the flood-affected areas said that many houses are under 8-19 feet of mud, which is delaying rescue operations. Last year, floods killed 200 in Kerala and displaced as many as five million. All the 14 districts in the state, except Kollam, are in trouble. Many of them now live at 1,600 relief camps. Malappuram district with over 54,000 people has the largest number of people living in makeshift camps. 67 dead in Karnataka The death toll in Karnataka is now at 67, and as many as 227,000 were displaced. <a href="https://www.youtube.com/watch?v=sCWqknq8zLshttps://www.indiatoday.in/india/story/monsoon-rains-flood-live-updates-news-kerala-maharashtra-gujarat-karnataka-1579879-2019-08-12">According to</a> State Natural Disaster Monitoring Centre, "Since August 1, 2019, 40 people have lost their lives, 14 are missing, 5,81,702 people have been evacuated. As many as 1168 number of relief camps are operational as 17 districts and 2,028 villages are affected." Karnataka Chief Minister BS Yediyurappa that said the government would provide a compensation of ₹500,000 to families of the deceased. 30 dead in Maharashtra, but flood’s receding The death toll in Maharashtra stood at 30. However, the government said the situation is improving. Over 203 roads and 94 bridges were closed in advance to avoid vehicular movement. The water level is significantly going down in Maharashtra, <a href="https://www.moneycontrol.com/news/india/maharashtra-flood-toll-rises-to-40-amit-shah-conducts-aerial-survey-4320751.html">said the government. </a> The water level is significantly going down in Maharashtra, <a href="https://www.moneycontrol.com/news/india/maharashtra-flood-toll-rises-to-40-amit-shah-conducts-aerial-survey-4320751.html">said the government. </a> Floods in Bihar and monsoon floods in Assam too <a href="https://www.businessinsider.in/bihar-floods-and-assam-floods-death-toll/articleshow/70329643.cms">killed 166 in July</a>. As many as 5 million people were displaced as well. However, the situation has been improving since then. Water level in four river in Bihar was receding with no fresh casualty reported.

Floods kill 140 in Maharashtra, Kerala, and Karnataka — and there is no end in sight

The death of <keyword id="808597" type="COMPANY" weightage="20" keywordseo="VG-Siddhartha">VG Siddhartha</keyword> has shocked one and all. The stock broker-turned-coffee baron’s body was found today, two days after he went missing on Monday (July 29). The share price of Coffee Day Enterprises has lost over ₹1,500 crore (over $200 million) in value in the two days. Not just the corporates, even <a href="https://www.livemint.com/companies/people/sombre-scene-at-sm-krishna-s-house-as-son-in-law-vg-siddhartha-missing-1564466265555.html">politicians of all colours</a> paid their respects to him. <keyword id="3003" type="POSITION" weightage="20" keywordseo="Former-Prime-Minister">Former Prime Minister</keyword> <keyword id="6359332" type="ORGANIZATION" weightage="20" keywordseo="HD-Deve-Gowda">HD Deve Gowda</keyword>, who hails from Karnataka, even broke down on national television. 
	
	
	<div type="twitter" handle="MirrorNow" handlename="Mirror Now" image="http://pbs.twimg.com/profile_images/844708508989841408/HLuil94O_normal.jpg" favoritecount="2" retweetcount="2" status="Mirror Now's @NehaHebbs spoke to JDS chief H. D. Deve Gowda who claimed that #VGSidharth was ill-treated by the tax… https://t.co/NDyoRRSwRZ" createdat="1564495201000" id="1156202791645282304"></div>







 India’s coffee king VG Siddhartha <a href="https://www.businessinsider.in/news/ccd-founder-v-g-siddharthas-dead-body-recovered-by-the-police/articleshow/70459022.cms">(1959 to 2019)</a> is being remembered as the man who brought coffee culture to India before Starbucks. The promoter of Coffee Day Enterprises was a sharp businessman taken out by bad times, allegedly by aggressive taxmen. He was someone who played a silent but significant role in shaping India’s IT revolution, and benefited from it hugely. He was loved by the close-knit and elite Bengaluru corporate circuit of which Siddhartha was an influential member for more reasons than one. 
	
	
	<div type="twitter" handle="CNNnews18" handlename="News18" image="http://pbs.twimg.com/profile_images/923813836724977664/2wlt99tw_normal.jpg" favoritecount="37" retweetcount="12" status="#CCDFounderMissing – The government needs to engage with honest wealth creators and look at how they need to tackle… https://t.co/bWF2rNsNaB" createdat="1564486027000" id="1156164314899738624"></div>







 However, he is barely getting any credit for being just as savvy politically as in business. He had friends across parties and made strong connections. It seemed that way until his mysterious disappearance on July 29 and the discovery of his dead body in the Netravathi river two days later. The grief of all leaders from all parties once again underscored the point. Taxing times Siddhartha <a href="https://www.businessinsider.in/cafe-coffee-day-founder-vg-siddhartha-letter-to-board-of-directors/articleshow/70443951.cms">accused taxmen of harassing him</a> in a letter that he sent to the Board of Directors of his company before he went missing, which led many to blame ‘tax terrorism’ for his plight. 
	
	
	<div type="twitter" handle="TheVijayMallya" handlename="Vijay Mallya" image="http://pbs.twimg.com/profile_images/827708603/Copy_of_VJM_4_normal.JPG" favoritecount="4652" retweetcount="845" status="I am indirectly related to VG Siddhartha. Excellent human and brilliant entrepreneur. I am devastated with the cont… https://t.co/OLFGOFBdsG" createdat="1564523998000" id="1156323576171114496"></div>







 The Income Tax Department countered saying that the <a href="https://economictimes.indiatimes.com/news/politics-and-nation/tax-department-acted-as-per-law-in-ccd-promoter-siddhartha-case-sources/articleshow/70449827.cms">millionaire businessman admitted to</a> having ₹480 crore of unaccounted wealth. However, he did not reveal the source or pay the tax due on that money until his death, according to the department. Siddhartha’s harassment charge at the tax department came at a time while his father-in-law SM Krishna is with Bharatiya Janata Party (BJP), that’s ruling at the centre and state. He <a href="https://www.ndtv.com/india-news/why-sm-krishna-is-an-important-acquisition-for-bjp-1672353">switched his allegiance to the BJP in 2017</a> after being in the rival Congress camp for 46 years. However, Krishna was conspicuous in his silence during the chaotic political power play in Karnataka over the last few weeks. The bitter battle for power was <a href="https://m.economictimes.com/news/politics-and-nation/karnataka-assembly-floor-test-live-news-updates-yediyurappa-bjp-speaker/liveblog/70428190.cms">eventually won by his party</a> BJP, and BS Yediyurappa was <a href="https://www.livemint.com/politics/news/yediyurappa-sworn-in-as-karnataka-chief-minister-for-record-fourth-time-1564147393568.html">sworn in as the Chief Minister on July 26</a>, three days before Siddhartha’s disappearance and death. One of the many who were holding off Yediyurappa from claiming power was Congress leader DK Shivakumar, a political mastermind from Karnataka who put up a fervent fight against the BJP. He is also a close friend of Siddhartha. Therefore, Shivkumar’s outburst soon after Siddhartha went missing was not surprising. 
	
	
	<div type="twitter" handle="DKShivakumar" handlename="DK Shivakumar" image="http://pbs.twimg.com/profile_images/807171771233247232/iDF5c7Pi_normal.jpg" favoritecount="2409" retweetcount="656" status="The letter purportedly written by Shri VG Siddhartha which is circulating is dated July 27th. I received a call fr… https://t.co/Qo6ZQVF4fI" createdat="1564466916000" id="1156084157325254656"></div>







 Shivakumar too, has a tax case against him and his premises were raided in 2017 by officials who <a href="https://www.ndtv.com/karnataka-news/300-crores-undisclosed-income-found-in-raid-on-dk-shivakumar-sources-1733978">unearthed unaccounted cash of ₹300 crore</a> and, shockingly, <a href="https://caravanmagazine.in/politics/yeddyurappa-diaries-bjp-1800-crore-payouts-jaitley-rajnath-gadkari-advani-crores">copies of a diary allegedly maintained by his rival Yediyurappa</a>. From Shivakumar to Yediyurappa to Kumaraswamy, people across the political spectrum are grieving Siddhartha’s untimely death. It is also a testament to the fact that in India, businessmen cannot thrive without politically astute connections. The Rajkumar Ransom Both the success of his ventures and his father-in-law’s power made Siddhartha important in Karnataka. When S M Krishna’s government was frantically coming up with a massive ransom necessary to free <a href="https://www.thehindu.com/news/national/karnataka/rajkumar-case-verdict-the-perfect-script-that-will-remain-a-secret/article25042510.ece">Rajkumar, the Kannada superstar who was kidnapped by Veerappan in 2000</a>, Siddhartha came to help. According to an account, <a href="https://www.telegraphindia.com/india/telgi-link-to-veerappan-ransom/cid/729965https://www.telegraphindia.com/india/telgi-link-to-veerappan-ransom/cid/729965">Siddhartha was one of the five people in the room</a> that included the then CM Krishna, Mallikarjun Kharge, and Abdul Karim Telgi. Telgi is better known for his $2.9 billion fake stamp paper scam, and was acquitted from it, <a href="https://www.news18.com/news/india/abdul-karim-telgi-acquitted-in-stamp-paper-scam-year-after-his-death-1987855.html">after his death, for lack of evidence</a>. The government of Karnataka at the time <a href="https://timesofindia.indiatimes.com/city/bengaluru/Govt-not-Rajkumar-family-paid-ransom-Ex-DGP/articleshow/29005840.cms">insisted that it had paid for Rajkumar’s release</a> from <a href="https://timesofindia.indiatimes.com/india/Veerappan-End-of-three-decades-of-terror/articleshow/890585.cms?referral=PM">Veerappan, a dreaded bandit</a> who modelled himself after Robin Hood. However, it has been alleged many times that <a href="https://timesofindia.indiatimes.com/india/Veerappan-End-of-three-decades-of-terror/articleshow/890585.cms?referral=PM">both government and private money were paid</a> to secure the release of the actor, while thousands of Rajkumar’s fans took to the streets to protest, violently at times. The role and involvement of Siddhartha may remain unclear. The length of the arm between Chief Minister Krishna and his son-in-law in state matters may remain anybody’s guess. While the details of Siddhartha's political prowess may remain unknown, his achievements in business have been celebrated abundantly. Coffee estate to real estate India has always had coffee houses, in the big cities at least, where for decades thinkers, lovers, and revolutionaries have hung out. Siddhartha’s chain Cafe Coffee Day (CCD) brought the 21st century colours to this culture. 
	
 
 
 <div type="image" title="An employee prepares coffee for customers at a Cafe Coffee Day outlet in Mumbai" msid="70464424" hostid="261" caption="&amp;lt;p&amp;gt;An employee prepares coffee for customers at a Cafe Coffee Day outlet in Mumbai, November 2, 2015. REUTERS/Danish Siddiqui/Files&amp;lt;/p&amp;gt;"></div>







 It may have helped that his father-in-law SM Krishna -- Chief Minister of Karnataka between 1999 to 2004 -- was a man with massive political clout at the time. However, Siddhartha’s privilege does not take away the credit due for his business acumen. There are many who own estates in <a href="https://www.indiacoffee.org/coffee-regions-india.html">Karnataka’s coffee belt</a> but it was Siddhartha who made the right moves at the right time and CCD became the go-to place for young Indians at the turn of the century long before competitors woke up to the opportunity. Privileged and benevolent Siddhartha not only built his own empire of coffee chains, real estate, financial services and logistics, he also supported entrepreneurs who went on to become icons in their own right. Infosys is a shining example, which went on to be the first poster boy of India’s IT revolution. However, the company didn’t have enough takers for its shares at the time of its IPO. Siddhartha, who was a stock broker in Bengaluru at the time, had underwritten those shares and bought them. He made a lot of money out of it but only because he knew their worth when no one else did. Infosys and Mindtree are <a href="https://economictimes.indiatimes.com/tech/ites/tech-savvy-siddhartha-got-many-a-tech-winner-going/articleshow/70458429.cms?from=mdrhttps://economictimes.indiatimes.com/tech/ites/tech-savvy-siddhartha-got-many-a-tech-winner-going/articleshow/70458429.cms?from=mdr">only two of the many examples</a> were Siddhartha backed entrepreneurs. He owed a lot of his wisdom and foresight to the training he received under Mahendra Kampani (1959 to 2017), one of the stars of India’s stock market, who was the sitting member of the governing board at the Bombay Stock Exchange (BSE) <a href="https://www.business-standard.com/article/specials/mahendra-kampani-dies-in-car-crash-197082701105_1.html">until his death in a car crash in 2017</a>. After his Masters in Economics, Siddhartha got his early training at JM Financial under Kampani in 1983-84. Those two years of training and some capital from his father made him an independent broker in Bengaluru later. It was then that he underwrote the shares of Infosys and profited from the investment. The other ventures and profits followed this initial success. However, one may wonder if he could have built his fortune as a businessman in India without being just as savvy politically. SEE ALSO: <a href="https://www.businessinsider.in/business/cafe-coffee-day-founder-vg-siddhartha-letter-to-board-of-directors/articleshow/70443951.cms" data-type="tilCustomLink" target="_blank">Full text of the letter written by Cafe Coffee Day founder VG Siddhartha before he went missing</a>

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