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I-T raids on Tollywood personalities continue
Sukumar
Income Tax (I-T) officials continued their searches at the offices of Telugu film production company, Mythri Movie Makers in Hyderabad for the second day on Thursday.
Hyderabad: Income Tax (I-T) officials continued their searches at the offices of Telugu film production company, Mythri Movie Makers in Hyderabad for the second day on Thursday.
A team of the I-T officials from New Delhi were also searching the residence of Sukumar, who directed the movies like 'Pushpa', 'Rangasthalam' and 'Arya'. Besides Mythri Movie Makers, the I-T officials continued their searches at the residences of Erneni Naveen, Cherukuri Mohan and Yalamanchili Ravishankar in Jubilee Hills.
The officials were checking records of their financial transactions for allegedly breaking investment regulations by bringing in funds from abroad for the second time in less than four months after December 2022. The production house is suspected to have funnelled funds from abroad and invested in Tollywood to produce several films. It is learnt that the I-T sleuths found that Sukumar had purchased a huge chunk of land and properties and the production company indulged in Hawala transactions.
Noted Bollywood film director Siddharth Anand was also reportedly paid advance to direct a film with Prabhas in the lead.
It is also producing 'Ustad Bhagat Singh' starring actor-politician Pawan Kalyan.
The production house allegedly allowed an investment of Rs 500 crore from abroad without following the Reserve Bank of India (RBI) norms. The production house also allegedly failed to disclose total investments and income sources in their Income Tax Returns (ITRs) filing. I-T officials are learnt to have seized some documents from the movie makers and also asked them to furnish the details of the properties possessed in their names for the last two years.
