Renowned Telugu film producer and distributor Dil Raju, whose real name is Velamkucha Venkata Ramana Reddy, refuted allegations of financial irregularities following Income Tax (IT) raids on his properties in Hyderabad on January 21. Addressing a press conference on Saturday, Raju clarified that the IT officials found no evidence of unaccounted wealth.
“There wasn’t even Rs 20 lakh at my place, as falsely reported in the media,” he said, adding that the raids yielded Rs 5 lakh from his residence, Rs 4.5 lakh from his partner Sirish, Rs 6.5 lakh from his daughter’s home, and Rs 2.5 lakh from his office. “All these amounts are accounted for, and we provided the necessary documents to the authorities. We haven’t made any investments or purchased properties in the last five years. The officials verified our records and declared everything clean,” he asserted.
The IT Department conducted searches across eight locations linked to the producer, including the residences of his relatives and his production office. Raju noted that such inspections are standard protocol and dismissed media speculation as baseless. “This is not the first time the IT Department has scrutinized our records. Similar raids were conducted in 2008 to ensure compliance with all financial regulations,” he said.
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Dil Raju, owner of the prominent production company Sri Venkateswara Creations, also addressed broader allegations about black money in the film industry. “There is no black money in the industry now. With over 80% of audiences booking tickets online, the system is much more transparent,” he explained.
He also spoke about the controversy surrounding exaggerated box office collections on movie posters, urging the producers’ council to take a definitive stance on the issue.
The raids and subsequent allegations come amidst heightened scrutiny of the film industry’s finances, but Dil Raju remains firm that his financial dealings are transparent and compliant with legal standards.
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