Income-tax officials on Wednesday raided the offices and residences of three popular Telugu movie stars, one of whom has business links with YS Jaganmohan Reddy, who has left the Congress after a bitter fight.
The actors are Akkineni Nagarjuna, Anushka and Ravi Teja. Nagarjuna’s business partner Nimmagadda Prasad figures among the businessmen who favoured Reddy by buying shares of the latter’s loss-making Sakshi TV at a premium of Rs 350. The I-T department is investigating the issue, which has also reached the Andhra Pradesh high court.
The sleuths also raided Nagarajuna family-owned Annapurna Studios and the residence of Nagarjuna's brother and producer Akkineni Venkat.
I-T department sources said the raids were in connection with real estate and other transactions that have found no reflection in the advanced tax payments by the actors.
Nagarjuna has investments in a popular TV entertainment channel, a convention centre in Hitech City (Hyderabad) and a chain of restaurants.
I-T sources further said they were looking into the money transfers among various bank accounts of these stars. Also under the scanner is a Vishakhapatnam land deal involving them.
The raids were on at the time of going to press.