Kerala: Income Tax raids actor-producer Soubin Shahir’s offices in Kochi over financial transactions
By Deepu Mohan | First Published Nov 28, 2024, 6:08 PM ISTThe Income Tax Department has raided actor Soubin Shahir's offices in Kochi, targeting Parava Films and Dream Big Distributors, to investigate their financial sources and transactions.
Kochi: The Income Tax Department has launched raids at the offices of actor Soubin Shahir in Kochi. The raids, conducted by the Kochi unit of the Income Tax Department, are focused on the financial transactions of Parava Films. The raids are taking place at the offices of Parava Films and Dream Big Distributors, located in Pullepady. According to the Income Tax Investigation Department, the primary aim of the investigation is to examine the financial sources of the two film production companies.
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There were earlier complaints of money laundering in Malayalam film industry to the Enforcement Directorate. Amid their probe, a complaint was filed by Siraj Valiyaveettil, an investor from Alappuzha, against Soubin, who produced the blockbuster film Manjummel Boys, alleged that the production company, Parava Films, had cheated him out of his profit share and return on investment.
The police investigation that followed revealed a shocking tale of financial fraud and report was submitted to the High Court. The producers of Manjummal Boys had allegedly misled Siraj, claiming that the film's production cost was Rs 22 crore, when in reality it was only ₹18.65 crore. Furthermore, the producers had falsely claimed that the first schedule of shooting was completed before filming had even begun.
Siraj had invested a whopping Rs 7 crore in the film, but despite the producers' assurances, he was not refunded his investment. The police have since filed a case against the producers, charging them with criminal conspiracy, breach of trust, and forgery.
The Enforcement Directorate (ED) has also taken notice of the complaint and has initiated an investigation into the financial dealings of Parava Films.
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