Actor Mahesh Babu summoned in money laundering case

Popular South Indian actor Ghattamaneni Mahesh Babu has been summoned in a money laundering case linked to reality groups Surana Group and Sai Surya Developers. He was summoned by the Enforcement Directorate (ED) which has asked the actor to appear for an inquiry. 

The ED claims that it has found some irregularities of Rs 5.5 crore, which Mahesh Babu was given to appear in advertisements for the Surana Group. Sai Surya Developers paid Mr Babu Rs 5.9 crore, including Rs 2.5 crore in cash and Rs 3.4 crore via cheque, for promotional activities. The Enforcement Directorate will investigate the remuneration paid to Mahesh Babu. 

During searches at Surana Group's affiliated companies, Sai Surya Developers and Bhagyanagar Properties, ED officials have uncovered illegal transactions worth Rs 100 crore and seized Rs 74.5 lakh in cash.

They found some key evidences at the residences of Surana Group chairman Narendra Surana and Managing Director Devendar Surana at Madhapur in Hyderabad's Jubilee Hills and Bowenpally. ED has also checked the offices of Sai Surya Developers.

The Enforcement Directorate has said Surana Group engaged in a massive fraud under the guise of real estate ventures.

The agency said in a statement that they searched four premises in Hyderabad and Secunderabad last Wednesday as part of their probe. In a statement they said, "ED initiated investigation on the basis of several FIRs registered by Telangana Police against Narendra Surana, Director of M/s Bhagyanagar Properties Ltd., K Sathish Chandra Gupta, Proprietor of M/s Sai Surya Developers & others under various sections of IPC for defrauding and cheating gullible investors of their hard-earned money in the name of advance for sale of plots involving huge amounts.”

It added that the probe had revealed that the accused "orchestrated fraudulent schemes involving unauthorised land layouts, selling same plots to different customers, accepting payments without proper agreements, and false assurances of plot registrations".

"Their actions caused financial losses to numerous investors. By cheating the general public with predetermined and dishonest intention, they generated proceeds of crime which was diverted and laundered for wrongful gain to themselves and related entities," it said.