Income Tax sleuths on Friday launched raids at multiple locations belonging to Baahubali Producers Shobu Yarlagadda and Prasad Devineni. Searches have been conducted at the offices of Arka Media Works.
As per Media reports, IT Department swung into action after receiving a tip-off that Baahubali Makers have crores worth unaccounted cash. IT radar seems to be on the Producers Duo since 'Baahubali' Part 1 released.
'Baahubali: The Beginning' & 'Baahubali: The Conclusion' were collectively made with a budget of around Rs 300 crore. The First Part alone collected a Gross of over Rs 600 crore. Pre-Release Business for Second Part is going to cross at least Rs 250 crore. Which means, Producers will be making huge profits from the franchise.
After the ban on Rs 500 and Rs 1000 currency notes, IT Raids on 'Baahubali' Producers is yet another massive blow to Telugu Film Industry in a short span.
As per Media reports, IT Department swung into action after receiving a tip-off that Baahubali Makers have crores worth unaccounted cash. IT radar seems to be on the Producers Duo since 'Baahubali' Part 1 released.
'Baahubali: The Beginning' & 'Baahubali: The Conclusion' were collectively made with a budget of around Rs 300 crore. The First Part alone collected a Gross of over Rs 600 crore. Pre-Release Business for Second Part is going to cross at least Rs 250 crore. Which means, Producers will be making huge profits from the franchise.
After the ban on Rs 500 and Rs 1000 currency notes, IT Raids on 'Baahubali' Producers is yet another massive blow to Telugu Film Industry in a short span.