IT Raids on Asian Cinemas offices

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IT Sleuths have been conducting raids on various businessmen in Hyderabad from the last couple of months. Income Tax officials searched the offices of Sunil Narang and Narayana Das Narang in Hyderabad. They are the leading distributors and exhibitors in Telangana.

They own ‘Asian Cinemas’, a multiplex chain across Telangana. Sunil and Narayana Das Narang are also running popular multiplex in Hyderabad – AMB Cinemas in association with Mahesh Babu. They are also venturing into film production with director Sekhar Kammula’s new love story starring Naga Chaitanya and Sai Pallavi.

There have been allegations that ‘ Asian Cinemas’ is indulging in GST malpractices. Today’s IT searches are not seen as regular exercise.

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