Latest news with #NarendraSurana
India Today
28-04-2025
- Entertainment
- India Today
Mahesh Babu's letter to ED on money laundering probe: Can't attend today
Telugu actor Mahesh Babu wrote to Enforcement Directorate (ED) officials that he will be unable to attend the scheduled inquiry today. In a letter to the ED, the actor cited personal reasons for his absence. Mahesh Babu was summoned for questioning in connection with an ongoing investigation into the Sai Surya Developers ED's investigation stems from its scrutiny of several Hyderabad-based real estate firms, including Sai Surya Developers and the Surana Group, which are accused of fraudulent activities. The actor is under investigation for promoting these controversial real estate projects, which allegedly duped homebuyers through false promises and illegal came on the ED's radar for promoting controversial real estate projects and reportedly received Rs 5.9 crore for his promotional work, including Rs 3.9 crore via cheques and Rs 2 crore in cash. The ED has issued notices to Mahesh Babu regarding the money he received for these promotions. The case centres around fraudulent activities by the promoters of these real estate firms, who are accused of selling unauthorised plots of land, accepting payments without proper agreements, and failing to deliver on promises made to investors. Just days ago, the ED's Hyderabad Zonal Office conducted raids at multiple locations in Hyderabad and Secunderabad, uncovering incriminating documents and unaccounted cash transactions amounting to around Rs 100 investigation follows multiple FIRs filed by Telangana Police against key figures in the case, including Narendra Surana, director of Bhagyanagar Properties Limited, and K Sathish Chandra, proprietor of Sai Surya
The Hindu
27-04-2025
- Business
- The Hindu
Actor Mahesh Babu cites scheduling conflict, ED questioning postponed
Actor Mahesh Babu has sought an adjournment from the Enforcement Directorate (ED) and will not appear for questioning on April 28, as previously scheduled. The ED has confirmed the adjournment request. The actor is being investigated in connection with a money laundering case involving Hyderabad-based real estate firms Sai Surya Developers and the Surana Group. He allegedly received ₹5.9 crore for endorsing their projects, with a portion paid in cash, raising concerns about potential links to illicit financial activities. 'He cited film shooting and some personal commitments as reasons to seek adjournment,' confirmed an officer. While Mahesh Babu is not currently an accused in the case, the ED is examining the financial transactions related to his endorsements. The investigation stems from complaints filed by investors who claim to have been defrauded by these real estate firms. The ED's probe includes searches conducted on April 16, which led to the seizure of documents and cash amounting to ₹74.5 lakh, along with evidence of approximately ₹100 crore in questionable transactions. Further updates are awaited as the investigation progresses. The ED initiated its investigation following multiple FIRs registered by the Telangana Police against Narendra Surana, director of Bhagyanagar Properties Ltd., K. Sathish Chandra Gupta, proprietor of Sai Surya Developers, and several others for allegedly duping investors by collecting advance payments for plots and failing to honour agreements.
Gulf News
22-04-2025
- Business
- Gulf News
Why Telugu superstar Mahesh Babu has been summoned by the ED in money laundering probe?
Telugu superstar Mahesh Babu has been summoned by the Enforcement Directorate (ED) on April 28 in connection with a money laundering probe involving Hyderabad-based firms Sai Surya Developers and the Surana Group, according to a report on NDTV. At the heart of the investigation is the Dh2.6 million the actor reportedly received for endorsing projects by Sai Surya Developers — around Dh1.5 million via cheque and Dh1.1 million. It's the cash component that's raised eyebrows, with officials suspecting it may be tied to funds collected through fraudulent means. What's the case about? According to Economic Times, the ED's investigation stems from multiple FIRs filed by Telangana Police against Narendra Surana, MD of Bhagyanagar Properties Ltd and K. Sathish Chandra Gupta, owner of Sai Surya Developers. They are accused of cheating land buyers by collecting hefty advances for plots in unauthorised layouts — some of which were sold multiple times. False promises of legal registration and no formal agreements sealed the scam. Recent raids uncovered millions in unaccounted cash and documents suggesting Rs 1 billion was funneled through illegal transactions. The money is believed to be proceeds of crime, redirected for personal use. Why Mahesh Babu? While the actor isn't accused of direct involvement in the fraud, his endorsement is seen as having boosted public trust in the now-tainted projects. Investigators want to determine if he knew about the irregularities or the dubious source of the payments.
India Today
22-04-2025
- Business
- India Today
ED summons actor Mahesh Babu for questioning on April 27 in money laundering case
The Enforcement Directorate (ED) has summoned actor Mahesh Babu for questioning on April 27 in connection with a money laundering case involving Hyderabad-based real estate firms Sai Surya Developers and the Surana actor is under scrutiny for promoting controversial real estate projects run by these firms. Sources in the ED say that Mahesh Babu was paid Rs 5.9 crore for endorsing Sai Surya Developers: Rs 3.4 crore through official banking channels and Rs 2.5 crore allegedly in suspect the cash may be part of the proceeds of crime linked to real estate fraud. The ED's Hyderabad Zonal Office, on April 16, searched four locations in Hyderabad and Secunderabad under the Prevention of Money Laundering Act (PMLA), raids led to the seizure of incriminating documents and unaccounted cash transactions worth around Rs 100 crore, including Rs 74.5 lakh in cash from the premises of the Surana investigation stems from multiple FIRs filed by Telangana Police against the Bhagyanagar Properties Limited director Narendra Surana, Sai Surya Developers proprietor K Sathish Chandra and are accused of duping homebuyers by collecting large sums as advances for plots, without delivering on ED investigation found that the accused had orchestrated fraudulent schemes involving unauthorised land layouts, selling the same plots to multiple buyers, accepting payments without proper agreements, and making false promises about plot actions led to significant financial losses for many investors. Acting with deliberate and dishonest intent, they defrauded the public and generated illicit funds, which were then diverted and laundered for personal and corporate gain.
Hans India
22-04-2025
- Business
- Hans India
ED notice to Mahesh Babu in money laundering case linked to realty firms
Hyderabad: The Enforcement Directorate has summoned top Tollywood actor Mahesh Babu in a money laundering case linked to realty firms Surana Group and Sai Surya Developers. The central agency has asked the actor to appear for an inquiry on April 27. Mahesh Babu is the brand ambassador for the two firms and reportedly received over Rs 11 crore for appearing in their advertisements. While Surana Group reportedly paid Rs 5.5 crore to the actor, he received Rs 5.9 crore from Sai Surya Developers for promotional activities. The ED is likely to investigate the remuneration paid to Mahesh Babu by the two firms. The ED notice to Mahesh Babu came less than a week after it conducted searches at the premises of the realty firms in Hyderabad. The agency said that unaccounted cash transactions worth Rs 100 crore were unearthed and Rs 74.5 lakh cash seized during searches in connection with an ongoing investigation against Sai Surya Developers and others. The central agency conducted searches at four premises in Hyderabad and Secunderabad on April 17 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The ED stated that it initiated investigation based on several FIRs registered by Telengana Police against Narendra Surana, Director of Bhagyanagar Properties Ltd., K. Sathish Chandra Gupta, Proprietor of Sai Surya Developers and others under various sections of IPC for defrauding and cheating gullible investors of their hard earned money in the name of advance for sale of plots involving huge amounts. The ED investigation revealed that the accused orchestrated fraudulent schemes involving unauthorised land layouts, selling the same plots to different customers, accepting payments without proper agreements, and false assurances of plot registrations. "Their actions caused financial losses to numerous investors. By cheating the general public with predetermined and dishonest intention, they generated proceeds of crime which were diverted and laundered for wrongful gain to themselves and related entities," the agency said. The ED searches resulted in the seizure of incriminating documents evidencing details of amounts collected by fraudulent means from various investors and unaccounted cash transactions worth around Rs 100 crore. Unaccounted cash amounting to Rs 74.50 lakh was seized from the premises of Narendra Surana and Surana Group of companies, said the ED, adding that further investigation is in progress.
