IT Raids on Suresh Babu and Nani

Reports are coming in that Income Tax Department is conducting raids on Rama Naidu Studios and Producer Suresh Babu. The Senior Producer’s offices and residences are being raided since this morning. Buzz is that there are doubts that Suresh Babu resorted to massive Tax Evasion with his production and distribution businesses.

Only a few days ago, Suresh Babu in an interview revealed that his Theater business is going through turbulent times with the movie collections not even meeting the electricity charges forget about the salaries. He listed Digital Releases, No Prominent Releases, and some other factors as the reason.

He went on to add that for the first time he is worried about his business. Suresh Productions is involved in the release of many small films these days. He is co-producing Victory Venkatesh and Yuva Samrat Naga Chaitanya’s Venky mama which is likely to release on December 13th.

He also announced the remake of Dhanush’s Asuran with Venkatesh in association with Kalaipuli S Thanu. The official announcements of these two projects were to happen this week. Reports are that raids are happening on Sithara Entertainments and Natural Star Nani as well regarding their latest project, Jersey.