After raids at the Telugu movie production house Mythri Movie Makers in Hyderabad, the Enforcement Directorate has started to crack down on the Lyca Productions office in Chennai, reportedly.The ED had already filed a money laundering case against Chennai-based Lyca Productions.
On Tuesday, the came down to the offices owned by the production houses.The ED officials raided 8 of the properties that are owned by Lyca Productions.
According to reports, the sudden outburst from the ED sleuths left the production House representatives and workers in shock.The raids are currently going on at the properties.
Searches are currently underway in areas including T Nagar, Adyar, and Karapakkam in Tamil Nadu.
Sources within the ED told reporters, that the raid is related to a Foreign Exchange Management Act (FEMA) charge against LYCA.
Charges under the Prevention of Money Laundering Act (PMLA) have also been added.
However, Lyca hasn’t made an official communication to this effect yet.LYCA Productions has produced many big budget movies including the Ponniyin Selvan franchise and Rajinikanth and Akshay Kumar-starrer 2.0 and also distributed blockbusters such as Jr NTR and Ram Charan-starrer RRR and Allu Arjun’s Pushpa: The Rise.The company Robo 2.0 which was projected to be the costliest film in Indian cinema at that point in time.Lyca Productions are currently bankrolling Indian 2 featuring Kamal Haasan.They announced that they are venturing into Telugu cinema also very soon.
