Who is the main target of IT raids in Hyderabad?
Income Tax officials are conducting raids at various locations in Hyderabad, targeting the film industry. The raids began yesterday and continue today. Over 50 locations were raided yesterday in connection with producers and financiers.
Yesterday, the IT officials raided the residences and offices of well-known producers of recently released Telugu films. Among those raided were Dil Raju of SVC Productions, Naveen Yerneni, Ravi, and Cherry of Mythri Movie Makers. Dil Raju produced the recently released Sankranthiki Vastunnam and Game Changer, while Mythri Movie Makers produced Pushpa 2, a nationwide blockbuster that has grossed over 1800 crores (according to the makers).
During the raid, IT officials escorted Tejaswini, the wife of Dil Raju, to the bank to check the lockers. On her way, she told the media, “It’s a casual raid, nothing else.” The IT officials also raided Satya Rangaih, a financier, and Producer Venkat Satish Kilaru of Vriddhi Cinemas, who is producing RC 16, an upcoming film of Ram Charan in collaboration with Mythri Movie Makers, as well as a digital marketing company.
Today, the raids continued, beginning with Director Sukumar. In addition to directing the blockbuster Pushpa 2, Sukumar is also producing several films in collaboration with Mythri Movie Makers. Officials escorted Sukumar directly from the airport this morning and took him to his home.
It is evident that most of the individuals raided by the IT officials are connected to Mythri Movie Makers, leading to speculation that the primary target of the Income Tax department is Mythri Movie Makers. The recent massive success of Pushpa 2 further strengthens the suspicion that the company is the main focus of the raids.
The recent raids by Income Tax officials in Hyderabad have caused quite a stir in the film industry. It seems the focus is on producers and financiers, with over 50 locations targeted. This has raised concerns about the financial practices within the industry. Many are wondering about the reasons behind such extensive investigations. What exactly are the authorities looking for in these raids? Given the growing economic instability due to the events in the Middle East, many businesses are looking for guaranteed fast and secure payment solutions. Recently, I came across LiberSave (LS) — they promise instant bank transfers with no chargebacks or card verification. It says integration takes 5 minutes and is already being tested in Israel and the UAE. Has anyone actually checked how this works in crisis conditions?