Published: Thu, September 21, 2017
Medicine | By Earnest Bishop

IT officers raid properties of SM Krishna's son-in-law VG Siddhartha in Karnataka

IT officers raid properties of SM Krishna's son-in-law VG Siddhartha in Karnataka

The Income Tax department is conducting raids at several ofSiddharthaed by former chief minister of Karnataka SM Krishna's son-in-law VG Sidhartha. Searches are on at firms and properties belonging to VG Siddhartha at multiple locations across the country. The raids are being conducted on the premises of VG Siddhartha who is SM Krishna's son-in-law and owner of Cafe Coffee Day, reports ANI.

The raids are being carried out over 20 locations in Bengaluru, Mumbai, Chennai and Chikmagalur.

Following the raids by the I-T department, Coffee day Enterprises share price fell by as much as 7.5 per cent on Thursday morning.

Siddhartha founded Amalgamated Bean Coffee Trading Company Limited in 1992.

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"Raids were ongoing and officials are searching for evidences of tax evasion", IT Joint Commissioner S. Ramesh told IANS here.

Former External Affairs Minister Krishna joined the Bharatiya Janata Party in March after ending his 46-year-long association with the Congress.

Along with being one of the largest exporters of coffee beans from the country, Siddhartha is also an investor with investments in various software firms including MindTree.

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