Four days after the IT raids on properties of VG Siddartha, son-in-law of former External Affairs Minister and BJP leader SM Krishna has yielded concealed income to the tune of Rs 650 crore. The sleuths of Income Tax department had raided 25 properties of Siddartha in Bengaluru, Hassan, Chikmagalur, Chennai and Mumbai.
A statement from the IT department said, “The searches in a group involved in coffee, tourism, information technology and other areas concluded with an admission of previously concealed income exceeding Rs 650 crore. The detection of undisclosed income is expected to be a much higher figure.”
“There are a number of other issues including violations of other statutes on which there is no disclosure but relevant evidence has been found... these will be pursued effectively with vigour, energy and imagination,” it added.
Siddartha hails from a family, which has coffee business over a century. He also owns a business chain Cafe Coffee Day (CCD). Former Karnataka Chief Minister SM Krishna after over five decades of full time politics in the Congress party has recently joined the BJP. Krishna directly blamed Congress v-p Rahul Gandhi for his decision to quit the century old party. SO far either Krishna or Siddartha have made no statement on the IT raids on his properties.
Earlier, the IT raids on the powerful Congress Minister in Karnataka DK Shivakumar, who hosted the Gujarat Congress MlAs in Bengaluru before the Rajyasabha elections in Gujarat has become a major political row between the Congress and the BJP. The Congress leaders have blamed the Modi Government for using IT department to conduct raids on Congress
politicians.
But this raid on SM Krishna’s son in law who is now in BJP has surprised many in the ruling party. A BJP leader on the condition of anonymity said even his party leaders in the state were surprised at the raids but it will not have any political ramification in the ensuing Assembly polls.