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I-T raids continue on Cafe Coffee Day owner’s properties

Income Tax raids on the properties of V G Siddhartha, founder-owner of Cafe Coffee Day continued for the second day on Friday.

Published: 23rd September 2017 03:03 AM  |   Last Updated: 23rd September 2017 09:39 AM   |  A+A-

By Express News Service

BENGALURU: Income Tax raids on the properties of V G Siddhartha, founder-owner of Cafe Coffee Day continued for the second day on Friday. Teams of officials who had raided his properties in Bengaluru, Chennai, Mumbai and other parts of Karnataka, have continued to assess documents of his companies which are under the radar amidst suspicion of tax evasion.

V G Siddhartha

Among the places where the raids continued were the corporate office of Cafe Coffee Day at Vittal Mallya Road in the city, his residence in Sadashivanagar, estates and curing plants in Chikkamagaluru district.
According to sources in the I-T department, the raids are likely to wind up by Saturday evening. “Officials are also likely to record statements from Siddhartha regarding the raid, before finishing the panchanama of the raid,” the source added.Among the firms raided inclued Way2Wealth, Amalgamated Beans Coffee Curing Works, Serai Luxury Resorts and others.



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