Shares of Coffee Day Enterprises fell over 7% in intraday trading. Siddhartha, the chairman of Coffee Day Enterprises Ltd, a senior official at the IT department confirmed, requesting not to be named. Raids are being conducted at multiple locations, including Siddhartha’s offices at Coffee Day Square in Lavelle Road and his residence in Sadashivanagar, both upscale localities in the city. Coffee Day Enterprises could not be immediately reached for comments over telephone and email. Shares of Coffee Day Enterprises fell over 7% in intraday trading.

Source: Mint September 21, 2017 08:37 UTC