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The Enforcement Directorate (ED) has summoned actor Mahesh Babu for questioning on April 27 in reference to a cash laundering case involving Hyderabad-based actual property corporations Sai Surya Builders and the Surana Group.
The actor is below scrutiny for selling controversial actual property initiatives run by these corporations. Sources within the ED say that Mahesh Babu was paid Rs 5.9 crore for endorsing Sai Surya Builders: Rs 3.4 crore by means of official banking channels and Rs 2.5 crore allegedly in money.
Investigators suspect the money could also be a part of the proceeds of crime linked to actual property fraud.
The ED’s Hyderabad Zonal Workplace, on April 16, searched 4 places in Hyderabad and Secunderabad below the Prevention of Cash Laundering Act (PMLA), 2002.
The raids led to the seizure of incriminating paperwork and unaccounted money transactions price round Rs 100 crore, together with Rs 74.5 lakh in money from the premises of the Surana Group.
The investigation stems from a number of FIRs filed by Telangana Police towards the Bhagyanagar Properties Restricted director Narendra Surana, Sai Surya Builders proprietor Ok Sathish Chandra and others.
They’re accused of duping homebuyers by accumulating giant sums as advances for plots, with out delivering on guarantees.
The ED investigation discovered that the accused had orchestrated fraudulent schemes involving unauthorised land layouts, promoting the identical plots to a number of patrons, accepting funds with out correct agreements, and making false guarantees about plot registrations.
These actions led to important monetary losses for a lot of traders. Appearing with deliberate and dishonest intent, they defrauded the general public and generated illicit funds, which have been then diverted and laundered for private and company achieve.
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