IT Raids on Ramanaidu Studios and Suresh Babu

Published on Nov 20,2019 03:02 PM
IT Raids on Ramanaidu Studios and Suresh Babu

According to the latest update, the Income Tax (IT) Department is conducting raids on Suresh Babu’ house, offices and Rama Naidu Studios. Suresh Babu’ offices and residences are being raided since Wednesday morning. Few days ago, Suresh Babu has said in an interview that digital platforms like Amazon, Netflix  and OTT platform are destroying the theater business and  he is neither able to  pay electricity bills not the salaries to the employees.  Amidst this, the IT raids on Suresh Babu's offices come as a surprise development.

 The sources say that this is  a regular searches conducted by Income Tax Department. However, the raids on Suresh Productions is following the IT raids on Sunil Narang of Asian Cinemas.  Both Sunil Narang and Suresh Babu are known for their business association. On the other-side, everyone is eagerly waiting for the release of his next upcoming production venture Venly Mama, which will be released on 13th December.