IT Dept raids at Baahubali producer's house
on Nov 11, 2016
The Income Tax department conducted raids at the houses of producers Shobu Yarlagadda and Prasad Devineni, who bankrolled the blockbuster film Baahubali. Baahubali, a historical fiction epic, was released simultaneously in Telugu and Tamil in July last year and became India's biggest-ever hit, doing business of over 650 crores worldwide. It was also dubbed in Hindi. Telugu producer -director Tammareddy Bharadwaja condemned the move and said that the Income Tax officials were victimisng the producer and that not a single producer from the industry had involved in illegal practices. He also said that the producers maintained proper documentation. According to news agency, The I-T department raided the places of producers Shobu Yarlagadda and Prasad Devineni allegedly for possession of at least Rs 60 crore cash of discontinued Rs 500 and Rs 1000 notes. However, the Baahubali team didn’t respond to the reports and further information on the raids in awaited.