The Enforcement Directorate (ED) has raided earlier Telugu movie production houses, such as Mythri Movies and Dil Raju. Currently, ED is taking on the biggest production house in India, which produced some of the greatest box-office successes in recent times. These include Megastar Chiranjeevi’s Khaidi No. 150; Tamil and Telugu bilinguals: Ponniyin Selvan I and II; Robo 2.0; Indian 2, a Kamal Haasan movie that is yet to premiere; and many other titles.
Officials from the Enforcement Directorate (ED) conducted searches in multiple locations of film production company Lyca’s premises on Tuesday in Chennai. The ED registered a money laundering case against the company which led to searches being held at about eight places in the city. A large sum of cash, ₹1.01 crore, along with several suspicious documents were taken as evidence that suggests misconduct by Lyca. There has yet to be any comment from the company regarding the raids.
The (ED) has taken action against various entities, including Karan A Chanana, his relatives, and Amira Pure Foods Pvt. Ltd., based on a First Information Report (FIR) lodged by the Central Bureau of Investigation (CBI). They are accused of misappropriation, fraud, criminal breach of trust, cheating, and more – reportedly leading to wrongful losses amounting to Rs 1,201.85 crores for a banking consortium led by Canara Bank. The ED is currently looking into eight premises in Chennai as part of its money laundering investigation into Lyca Productions – a film production and distribution company founded by Subaskaran Allirajah in 2014.
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