Income tax department officials raided Asian Cinema’s offices on Tuesday, owned by Sunil Narang and Narayan Das Narang (President of Telugu Film Chamber) and family.
Raids are said to be conducted on the offices of Asian Cinemas and their properties. It is also reported that the residence of Sunil Narang and Narayan Das was also searched. And some close aides’ properties were also included in the search. The company has several multiplex theaters nationwide.
Asian Cinemas has set up AMB Mall along with superstar Mahesh Babu. It is currently the largest and only luxury multiplex in Hyderabad. Asian Cinemas is also working on another multiplex with hero Allu Arjun. Sunil Narang is currently producing the film under the direction of Shekhar Kammula as the hero of Naga chaitanya. Asian Cinemas has distributed a large number of films like ‘Baahubali’ in Nizam.
However, it is still unclear what the IT authorities have revealed. Asian Cinema Owners Are Inquiring As To Whether All Taxes Are Payed To The Government. Full details are to be known.