Why is Mahesh Babu Requesting More Time to Meet ED?
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Synopsis
Tollywood's beloved actor Mahesh Babu has requested more time to meet the Enforcement Directorate regarding a money laundering investigation linked to real estate firms. As the inquiry unfolds, questions arise about the implications for his brand endorsements and the broader impact on the industry.
Key Takeaways
- Mahesh Babu has requested more time to meet with the Enforcement Directorate.
- The inquiry is linked to a money laundering case involving realty companies.
- He received substantial payments for his role as a brand ambassador.
- The ED has uncovered significant unaccounted cash transactions.
- The investigation highlights issues of accountability in the real estate sector.
Hyderabad, April 27 (NationPress) Renowned Tollywood actor Mahesh Babu has formally requested additional time to meet with the Enforcement Directorate regarding inquiries related to a money laundering case involving real estate companies Surana Group and Sai Surya Developers.
The central agency had previously issued a notice mandating his presence on April 27 for questioning.
However, reports suggest that he has communicated to the ED about his inability to attend due to a packed schedule and has asked for an alternative date.
Mahesh Babu served as the brand ambassador for both realty firms, reportedly earning more than Rs 11 crore for his promotional appearances.
Of this amount, Surana Group paid him Rs 5.5 crore, while Sai Surya Developers compensated him with Rs 5.9 crore for his advertising efforts.
Additionally, it has been reported that he received Rs 3.4 crore via cheques and Rs 2.5 crore in cash from Sai Surya Developers.
The Enforcement Directorate is expected to delve deeper into the payments made to Mahesh Babu by these firms.
The notice sent to him followed a week after the agency executed searches at the offices of the realty firms in Hyderabad.
During these searches, the ED uncovered unaccounted cash transactions amounting to Rs 100 crore and seized Rs 74.50 lakh in cash as part of an ongoing investigation into Sai Surya Developers and associated entities.
On April 17, the agency conducted searches across four locations in Hyderabad and Secunderabad under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The ED's investigation stemmed from several FIRs filed by the Telangana Police against Narendra Surana, the Director of Bhagyanagar Properties Ltd, K. Sathish Chandra Gupta, the Proprietor of Sai Surya Developers, and others, for various counts of fraud and cheating against unsuspecting investors.
Findings from the ED investigation unveiled fraudulent activities involving unauthorized land layouts, selling the same plots to multiple buyers, collecting payments without formal agreements, and providing false assurances regarding plot registrations.
The agency stated, “Their actions resulted in significant financial losses for numerous investors. By deceiving the public with premeditated and dishonest intentions, they generated proceeds of crime which were diverted and laundered for illicit gains.”
Point of View
The situation involving Mahesh Babu and the Enforcement Directorate illustrates the complexities of celebrity endorsements in industries under scrutiny. The ongoing investigation emphasizes the need for transparency and accountability in business practices, particularly in real estate.
NationPress
24/05/2025
Frequently Asked Questions
Why is Mahesh Babu being questioned by the ED?
Mahesh Babu is being questioned by the Enforcement Directorate in connection with a money laundering case linked to realty firms Surana Group and Sai Surya Developers.
What was Mahesh Babu's role with the realty firms?
He was the brand ambassador for both Surana Group and Sai Surya Developers, reportedly earning over Rs 11 crore for his promotional activities.
How much money did Mahesh Babu receive from these firms?
Mahesh Babu reportedly received Rs 5.5 crore from Surana Group and Rs 5.9 crore from Sai Surya Developers, along with cash payments.
What triggered the ED's investigation?
The ED's investigation was initiated based on several FIRs filed by the Telangana Police against key individuals involved in the realty firms.
What were the findings of the ED's searches?
The ED discovered unaccounted cash transactions worth Rs 100 crore and seized Rs 74.50 lakh in cash during searches related to the ongoing investigation.
