The undisclosed income of Rs 650 crore has been revealed in the income tax department’s raid on the premises of former Union Minister SM Krishna ‘s son-in-law and owner of Café Coffee Day, VG Siddharth . On Thursday, 25 properties related to Siddharth were raided in Bengaluru, Hassan, Chikmagalur, Chennai and Mumbai. Cafe Coffee Day is headquartered in Bangalore. VG Siddhartha is also associated with tourism, IT and other areas. A statement from the income tax department has stated that so far undisclosed income of Rs. 650 crore has been detected. This figure can also rise further. According to the Income Tax Department, there have been many issues of violation of the rules in this case and there has been strong evidence related to it. However, no response has been received from Siddhartha or SM Krishna about the impressions of the Income Tax Department.
Siddhartha is the founder-owner of Café Coffee Day, a series of coffee outlets in India and has been its Chairman and Managing Director since January, 2015, 9.5 million rupees in the raid on the bases of Karnataka’s Minister DK Shivkumar . He is also an investor and he has a stake in some IT companies. He is one of the largest exporters of coffee seeds in the country.