Exclusive: Sithara lost hefty illegal amount

Sitara Entertainments reportedly coughed up 14 lakhs to the Income Tax department for having unaccounted cash at their office premises.

In the recent raids made by the department, Producer Vamsi is said to have around twenty-five lakh cash at his office and he didn’t have an answer as to where he got the money from.

Suresh productions was raided too but nothing was found. Prior to a few days before he left to the USA, Suresh said he didn’t have money to pay power bills in the theatres, talking of the sad state of collections.

The IT department understood the statement as a way of hoodwinking or misleading the IT and began a raid. Producer KL Narayana and his relative who owns Avanti Feeds were also a part of the raid.