I-T department alleges Mythri movies utilized 700 crore hawala funds in Hyderabad.

The Income Tax department raided Mythri movies and the director Sukumar’s house. The IT officials found that the company received Rs 700 crore through hawala transactions from different companies. Naveen Yerneni, Y Ravi Shankar, and Chekuri Mohan allegedly used hawala to invest in film production. Director Sukumar received Rs 150 crore as profit share from the movies produced by Mythri movies.

The company was already facing charges of GST payment evasion, and the recent IT raids revealed the use of hawala money in film making. The IT officials asked the company heads to provide a written explanation on how they got such huge money and furnish the details of the source of funding with documentary evidences.