IT raids at Ramanaidu Studio and producer Suresh Babu’s residence

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Hyderabad: Officials of the Income-Tax (I-T) Department on Wednesday conducted simultaneous raids on Ramanaidu Studios in Hyderabad and other premises owned by popular Tollywood producer Daggubati Suresh Babu. Searches were also conducted at Suresh Babu’s residence in Hyderabad. The raid began early in the morning on Wednesday and media reports suggest that officials are going through I-T returns filed by the production house over the last few years, to examine alleged tax evasion. The raids are expected to continue until Wednesday evening. Some documents were also examined and seized by the officials, media reports added.