In the wake of Prime Minister Narendra Modi’s demonetization move by banning Rs. 500 and Rs. 1000 currency notes to curb black money, many cities are seeing Income Tax (IT) raids.
We have now learned that the Income Tax (I-T) department has raided the homes and offices of producers of the blockbuster film Bahubali – The Beginning. The raids were conducted on the residences and offices of the film producers Shobhu Yarlagadda and Prasad Devineni in Hyderabad. Although it is unknown who had tipped off the department, it is speculated that a leading distributor had asked to conduct the raid.
According to the reports, IT department was tipped off that the producers of Bahubali were in possession of unaccounted cash. Everyone in Tollywood industry is shocked with the raid. We have further learned that before conducting the raid, the officials had kept tabs on the producers and team. It turns out that this was the first major raid since PM Modi’s demonetization move. The IT raids were being held in different cities of the country including Hyderabad, Mumbai and New Delhi.
Bahubali: The Beginning has been a successful film in different languages and the sequel Bahubali: The Conclusion is all set to be released in April 2017.