Income Tax officials raided on the offices of producers of Nandamuri Balakrishna’s movie Gautamiputra satakarni and its distributors.
The IT officials knocked the doors of producer Saibabu and Rajiv Reddy and director Krish’s office. They also conducted raids on Hero Nithin and his father Sudhakar Reddy who distributed the movie in Nizam area. The officers questioned Sudhakar Reddy for nearly 8 hours. Sudhakar Reddy is father of popular Telugu film actor Nithin and produced movies like ‘Dil’.
Telugu Hero Nithin’s Father Sudhakar Reddy is one of the leading producer and distributor in Tollywood. He also does business in partnership with other distribution houses like Global Films and Asian Cinemas.
As Sudhakar Reddy distributed movies like Nandamuri Balakrishna’s “Gautamiputra Satakarni” in Nizam area, the IT officials is said to have visted him to enquire the accounts.On the other hand, Nithin recently launched two movies and it was reported that he took huge remuneration for it. Nithin’s father Sresth Movies also doing huge bussiness.
The Gautamiputra Satakarni film released on Jan 12 opened to unanimous collections all over the world. The state governments of Telangana and Andhra Pradesh have waived off the Entertainment Tax to the film and this resulted in good profits to distributors, producers.Starring Balakrishna, Shriya Saran and Hema Malini in stellar roles, the film has done nearly 60 Crore share worldwide including 1.7 Million USD gross in US alone.
The motive behind the raids is said that none of the film unit has so far disclosed its profits including its overseas collections. Secondly, the Khaidi No 150 which was released a day before GPS has disclosed its collections unlike Balakrishna’s film.
Similarly, last year IT raids were conducted in offices of ‘Baahubali’ producers Prasad Devineni and Shobhu Yarlagadda
The search, reportedly, has come after the I-T officials received information on the film’s crew allegedly collecting huge amounts from distributors, despite the Balakrishna-starrer being given Entertainment Tax (ET) exemption from Telangana and Andhra Pradesh governments.
The raids which commenced on Tuesday morning were carried out in the offices located in Jubilee Hills, Banjara Hills and Film Nagar. According to sources, the officials asked Sudhakar Reddy to be present in the city as the raids would go on for next couple of days. “Documents pertaining to the film and its finances have been seized. The raids would be carried out further,” source said.
Released on Jan 12th, The movie reportedly collected a share around 49 Crores .The film features Balakrishna ,Shriya Saran and Hema Malini in lead roles.