Economy

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

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

Police outside Cafe Coffee Day headquarters in Bengaluru.

The income tax department is conducting raids on the premises of VG Siddhartha, owner of Cafe Coffee Day chain of restaurants. Searches were being conducted at over 20 locations including Bengaluru, Mumbai, Chennai and Chikmagalur.

Siddhartha is best known as the founder-owner of the chain of Cafe Coffee Day outlets. 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. According to an Economic Times story in 2015, CCD has 1,550 stores, around 31,000 vending machines and 12,000 corporate accounts.

Krishna, who served as Karnataka CM from 1999 to 2004, joined the Bharatiya Janata Party (BJP) earlier this year breaking his almost 50-year-old association with the Congress.

VG Siddhartha, who has stakes in MindTree and other software firms, is among the country's largest exporters of coffee bean. Krishna came into politics with the Praja Socialist Party, winning the Maddur Assembly seat in 1962.



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