It is known that the I-T officials carried on raids on a big production company. Several rumors and theories are in circulation among the movie and media circles in this regard.
According to a national media source, the Income Tax Department officials have discovered that Rs 150 crore was transferred to a Bollywood director through the hawala channel. This is a significant amount of money, and there is further speculation about where the money has been invested and how it has been routed.
The national media further stated that a Tollywood director invested his money in infrastructure and real estate and that a busy actor in the sequel received the money from the company through this questionable route. The identity of the actor is a topic of discussion in the film circles since it is rumored that the company has made significant payments to two big actors through this channel in the last two years.
As per the same national media source, there is a big allegation in circulation that the company received the money from abroad via a Mumbai-based company.
The I-T teams have identified that the Mumbai company received almost Rs 700 crore from abroad and transferred it to seven companies for onward transfer to the movie company to avoid detection as per the hearsay mentioned by the national media source.
The national media finally mentioned that the sources stated that the officials are likely to issue notices to them to appear before them in Mumbai.
Although the grapevine suggests that the I-T officials are looking into the accounts of the actors to uncover the whole controversy, sources close to the company have said that the raids are over and there is nothing to worry about.
