IT raids SM Krishna son-in-law's office in Bengaluru

Income Tax raids on VG Siddharth

Siddhartha is the son-in-law of former Karnataka chief minister S M Krishna, who had joined Bharatiya Janata Party previous year.

According to ANI, the raids are being conducted on the premises of Krishna's son-in-law and owner of Café Coffee Day, VG Siddhartha in Bengaluru.

Sources said that search operations were on at multiple locations and had covered all other businesses in which Mr. Siddharth had interests in, including hospitality, coffee plantation, and consultancy. Searches were being conducted at over 20 locations including Bengaluru, Mumbai, Chennai and Chikmagalur.

In an unexpected move earlier today morning, the Income-tax department raided the headquarters of Cafe Coffee Day, the leading chain of coffee shops in the country. No official word on the raids has come in from the Income Tax department as yet.

Software firm Mindtree share price also fell more than 2 percent as Siddhartha and Coffee Day Enterprises hold some stakes in the company. The Karnataka businessman is the son-in-law of former Karnataka Chief Minister and SM Krishna who quit Congress and joined the BJP in March in 2017.

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