The Income Tax Department conducted a search in the case of four major players in the Tamil film industry – a producer, a prominent actor, a distributor and a financier – based in Tamil Nadu on Tuesday. The common thread among all these entities was the success of a recent film, which collected around ₹300 crore at the box-office.
About 38 premises of the group (that produced the film) were covered in search and survey actions spread over Chennai and Madurai, says a government press release.
The highlight of the search was the seizure of unaccounted cash of about ₹77 crore from hideouts and secret places located at Chennai and Madurai, purportedly belonging to the financier. A large number of property documents, promissory notes and post-dated cheques taken as collateral security were recovered during the search and have been seized.
As per evidence unearthed during the search, it is estimated that the concealment in this case is likely to exceed ₹300 crore.
The distributor, who is a part of the group searched, is also a builder. All documents in original, belonging to the distributor, have been recovered from a hideout, which was his friend’s house. Scrutiny of the evidence unearthed is under progress.
The producer, who is also a part of the group searched, is into film production, distribution and film-exhibiting multiplexes, and has produced several films.
As far as the actor is concerned, the department is looking into his investment in immovable properties and remuneration received from the said producer. Searches in some of the premises are still continuing, the release said.