Income Tax Raids on Asian Cinemas

Income Tax Raids on Asian Cinemas

One of the senior-most distribution houses in Nizam, Asian Cinemas, has come under the Income Tax Department Scanner. The IT department officials are raiding the offices and residences of Asian Cinemas’ Partners – Narayana Das and Sunil Narang. There are allegations that they have fudged the numbers in the books to evade tax. They own several multiplexes in Hyderabad and have inaugurated Hyderabad’s Luxurious Multiplex, AMB Cinemas, in association with Superstar Mahesh Babu.

Asian Cinemas recently forayed into film production. They started a project with Sekhar Kammula starring a newcomer. After completing 75% of the film shooting, the movie was shelved as they felt the hero is too amateur and is not ready. They are making the film once again with Naga Chaitanya and Sai Pallavi. The plan is to release the film in February 2020. Sources tell us that the film is a period film with Telangana backdrop and deals with sensitive subjects like caste discrimination and sexual exploitation. Naga Chaitanya and Sai Pallavi will be speaking Telangana accent in the movie. Rumors are that the First Look of the film will release as Diwali Special. There are rumors that Asian Cinemas also gave advance to Stylish Star Allu Arjun for a project.