IT Raids on Baahubali producers

baahubali-producersIn a shocking development after Prime Minister Narendra Modi scrapped Rs. 500 and Rs.100 notes, Income Tax officials on Friday conducted raids on #Baahubali producers Shobu Yarlagadda and Prasad Devineni Houses & Offices in Hyderabad.

Around three income tax officials teams simultaneously raided the offices and homes of the producers and found the unaccounted huge amount of Rs 50 crore is there in the producer’s offices and another such big amount is on the way of shifting from their possessions.

‘Baahubali 2’ has been sold to Nizam distributor for nearly Rs 50 Cr and overseas rights to 45 crores. In Andhra and Ceded areas , the movie sold for a record amount.

The makers are reportedly in a plan to convert the discontinued 500 and 1000 notes. Media sources say , a deal was in talk to get new notes at 70: 100 ratio and was also planning to by Gold @ 52kper gram ( present rate of gold is 33k ).