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'Baahubali' Producers Raided For Rs 60 Crore Worth Of Black Money

 Agencies |  2016-11-13 08:51:56.0  0  Comments

Following PM Modi's note ban, Income Tax officials raided the offices and residences of Baahubali producers Shobhu Yarlagadda and Prasad Devineni in Hyderabad. According to an NDTV report, the raid was conducted on Friday, 11 November. Baahubali: The Beginning was 2015's biggest hit earning Rs 650 crore worldwide. According to sources, its unprecedented box-office success is what brought it under the IT department's scanner.

The report also suggests that nearly Rs 60 crores worth of the discontinued Rs 500 and Rs 1,000 notes were allegedly being hoarded by the aforementioned producers.

According to a news report published in India Today, Telugu producer-director Tammareddy Bharadwaja has strongly condemned the raid saying that film producers are being victimised needlessly as not a single producer from the industry is involved in illegal practices. He also emphasised that his fraternity maintains proper documentation for all transactions associated with a film's release and distribution.

Directed by SS Rajamouli, Baahubali: The Beginning starred Prabhas, Rana Daggubati, Anushka Shetty and Tamannaah, was a runaway hit across the country. Viewed in Tamil, Telugu and Hindi, the film was 2015's biggest blockbuster and its much anticipated sequel Baahubali: The Conclusion is also underway.

The notes ban is the Modi government's attempt at bringing to light black money in circulation within the country. This move is likely to have served as a warning for film producers in Bollywood too.

Karan Johar's Dharma Productions and Bollywood film producer Anil Thadani presented the film's 2015 release.

(Sources: NDTV, India Today)

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