I-T raids premises, offices of Cafe Coffee Day owner VG Siddhartha

The Income Tax Department is conducting a search operation in the premises and offices of Former Karnataka Chief Minister SM Krishna's son-in-law VG Siddhartha, on Thursday.

Siddhartha is the owner of the popular cafe chain Cafe Coffee Day (CCD).

Over 20 locations in Bengaluru, Mumbai, Chennai and Chikmagalur are being raided and Cafe Coffee Day's main branch in UB city.

On that note, the stock of the cafe chain corrected over five percent on the news.