KL Narayana-Avanthi under IT scanner, Rs. 1 Crore found!

The Telugu film industry has come under the scanner of Income Tax (IT) Department once again. This time, the officials raided the office of the popular producer KL Narayana.

KL Narayana’s daughter has got married to the Chairman’s son of Avanthi Feeds Ltd. So, anticipating that there could be unaccounted wealth in both the places, the IT officials raided the offices and residences of KL Narayana and Avanthi Feeds, along with Trendset Builders Private Limited, at the same time.

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As Avanthi Feeds Ltd is operating in both Telangana and Andhra Pradesh, even the officials raided the offices in both the Telugu states, at the same time. The raids are conducted under the direction of Assistant Commissioner of Income Tax. At KL Narayana’s residence, Rs. 1 crore of unaccounted cash has been noticed. Further findings are yet to be revealed.

The sudden target of the IT officials is now shaking the film industry. A few opine that the officials are intentionally targeting the film industry on a row. But at the end of the day, they are performing their duty and no one can object to it.