Income-Tax department has kept a close watch on Telugu producers of late. Especially after PM Narendra Modi’s crucial announcement on Nov 8, IT has raided Baahubali producers Shobhu Yarlagadda and Prasad Devineni.
Even not so long ago, producer-distributor Sai Korrapati connected to Baahubali was raided by IT. This is not all. The IT department is also monitoring the producers who recently delivered success.
And the latest name we hear is new producer P.V.Rao who bankrolled superhit film “Ekkadiki Pothavu Chinnavada“.
Battling the demonetisation move, the Nikhil Siddharth-starrer is the first major film to see its release (on Nov 18) and yet managed to collecting good profits and still continuing its run and heading towards 50 days.
Reportedly, P.V. Rao is now under IT raids and the production house’s bank account is rumored to be seized by the IT sleuths. While there’s no exact confirmation on such rumors, one has to see for an official confirmation from the production house.