ED Probes Mahesh Babu Over Ad Payments in Money Laundering Case
Famous Telugu film star Mahesh Babu has received a notice from the Enforcement Directorate (ED). He has been asked to appear for questioning on the 27th of this month. This notice is linked to the financial irregularities of Surana Group and Sai Surya Developers.
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What is the Case About?
ED is investigating a major money laundering case involving Surana Group and Sai Surya Developers. Recently, ED conducted searches at multiple locations connected to these companies. During the probe, it was found that Mahesh Babu received Rs.5.9 crore for promotional work — out of which Rs.3.4 crore was paid in cash and Rs.2.5 crore via bank transfer.
Cash Seized During ED Raids
ED officials seized a large amount of cash during raids at the homes of Surana Industries MD Narendra Surana and Sai Surya Developers MD Satish Chandragupta. Documents related to suspicious transactions were also collected.
ED Begins Probe Based on Police Complaints
Earlier, Cyberabad police arrested Satish Chandragupta after multiple people accused him of fraud. Based on this, ED began its investigation into Sai Surya Developers. They discovered that several fake companies were created to carry out illegal financial activities.
Surana Group Accused of Rs.3,986 Crore Bank Fraud
The Surana Group is accused of cheating public sector banks out of Rs.3,986 crore. The Central Bureau of Investigation (CBI) has filed three cases regarding unpaid loans. In 2021, ED had already raided the Surana offices and seized gold and cash worth Rs.11.62 crore.
ED's Second Round of Raids in Surana Group Case
This is the second time ED has raided the Surana Group. Back in 2022, ED arrested top directors including Dinesh Chand Surana and Vijay Raj Surana. They allegedly used fake companies and offshore accounts to divert funds and buy properties under other names.
Dummy Companies and Offshore Accounts Revealed
Surana Group is said to have created fake directors in places like the Cayman Islands and British Virgin Islands. They also set up four companies in Singapore and used them to illegally move funds. The money was used to buy properties and fund personal expenses.
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