IT raid on SM Krishna's son-in-law VG Siddharth

IT Dept raids Cafe Coffee Day owner VG Siddhartha

Coffee Day shares fall 7 pc as IT dept raids premises

Former Karnataka chief minister SM Krishna's son-in-law VG Siddhartha was raided this morning by Income Tax officers who searched his properties in Karnataka, including the Cafe Coffee Day chain.

Cafe Coffee Day sources the coffee beans from its estates in Chikmagalur and according to the sources, IT department is also raiding the records of all the estates owned by the company, its owner and his family members. The outlet also houses Siddhartha's office. Tax sleuths were seen at the residence of V G Siddhartha who is chairman and managing director of the Coffee Day Enterprises, the report added.

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Earlier this year in March, Congress veteran SM Krishna joined the BJP. SM Krishna was known to be a popular Congress leader in the state, however, he switched to BJP a year ago. In Bengaluru, Coffee day square, the headquarters of the chain of cafes is being searched.

Krishna's decision to quit the grand old party on January 29 came as a surprise to many. However, he soon joined the Congress (I) led by Indira Gandhi, contesting the 1971 parliamentary elections.

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