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I-T raids Tollywood biggies in Hyderabad
Income-Tax sleuths on Wednesday conducted searches on residences, offices and other properties owned by Tollywood producers and actors, including Daggubati Suresh Babu, his brother and popular actor D Venkatesh and on Ramanaidu Studios.
Hyderabad: Income-Tax sleuths on Wednesday conducted searches on residences, offices and other properties owned by Tollywood producers and actors, including Daggubati Suresh Babu, his brother and popular actor D Venkatesh and on Ramanaidu Studios.
According to I-T sources, the sleuths divided into ten teams conducted simultaneous raids on Ramanaidu Studios in Hyderabad, residences and offices of Producer Suresh Babu in Film Nagar and Jubilee Hills in the early hours of Wednesday to examine alleged tax evasion.
They reportedly conducted raids in the premises of seven firms belonging to Suresh Productions and distribution offices owned by Suresh Babu and examined I-T returns filed by the production house over the last few years.
The sleuths of I-T department sought information about the transactions carried out during the earlier release of the films produced by Suresh Productions, in the presence of Auditors of the firms concerned based on the key documents seized by them in the raids at different places.
A team has also reportedly conducted searches in the residence of noted actor D Venkatesh in Puppalaguda and verified several documents related to the financial transactions of the firms.
Further the teams also reportedly conducted searches in the residence and offices belonging to S Radha Krishna who owns production houses Harika and Hassine Creations and Sitara Entertainments.
According to sources the I-T sleuths have also conducted searches in the residence of another Tollywood actor Nani in Jubilee Hills. However, the officials of Income-Tax department are yet to confirm the raids officially.
I-T shock for Tollywood
The raids on the producers and actors by the I-T officials are creating tremors and shock in Tollywood. Daggubati Suresh Babu is one of the most well-known producers in the Tollywood and also owns Suresh Productions along with several theatres in both the Telugu states.
He belongs to one of the most affluent families in Tollywood and he is the son of legendary producer the late D Ramanaidu, who produced more than 150 films in several Indian languages.
Recently I-T officials raided the offices and houses of owners of Asian Cinemas - a popular film production and distribution company and seized several important documents. However, the raid on Suresh Productions after the I-T raids on Asian Cinemas has gained a lot of significance and become the talk of Tollywood in both the Telugu states.
