ED notices to Mahesh Babu

The Enforcement Directorate (ED) has issued notices to superstar Mahesh Babu. As part of the ongoing money laundering investigation against Hyderabad-based real estate companies Sai Surya Developers and Surana Group, the ED has ordered Mahesh to appear before it on April 27. The agency will investigate Mahesh Babu's role in illegal financial transactions related to these companies.

The ED Hyderabad Zonal Office conducted raids at four premises belonging to Sai Surya Developers and Surana Group on April 16. The raids were conducted under the Prevention of Money Laundering Act (PMLA), 2002. During these raids, evidence related to illegal cash transactions worth about Rs. 100 crore, cash worth Rs. 74.5 lakh, and documents related to several real estate irregularities were seized.

The investigation was initiated based on multiple FIRs filed by the Telangana Police. Sai Surya Developers owner K. Satish Chandra Gupta and Bhagyanagar Properties Limited director Narendra Surana have been accused of cheating, selling plots in unauthorized layouts, selling the same plot to multiple people, and making false assurances on registration.

Mahesh Babu promoted real estate projects of Sai Surya Developers and Surana Group. The ED has found that he was paid Rs 5.9 crore as remuneration for these endorsements. Evidence suggests that Rs 3.4 crore of this amount was paid by cheque and Rs 2.5 crore in cash.

ED officials believe the cash payments are part of money laundering. They suspect that the source of this cash could be illegal income generated through real estate scams. The ED said that Mahesh Babu's endorsements increased public confidence in these companies, as a result of which many investors invested in these projects. However, there are allegations that these firms are involved in fraudulent activities such as selling plots in illegal layouts and not providing guaranteed registrations.