Mahesh Babu To Appear Before ED On Sunday In Alleged Link With Hyderabad Real Estate Groups Case

Mahesh Babu recently received two notices from the Enforcement Directorate (ED). The notices were reportedly issued due to the search conducted at two Hyderabad real estate groups Surana Group and Sai Surya Developers. The companies have been accused of defrauding buyers. The government agency has asked the Telugu superstar to appear for an enquiry on Sunday. Mahesh Babu reportedly received over Rs 5.5 crore for featuring in advertisements for the Surana Group. Sai Surya Developers paid Mr Babu Rs 5.9 crore, including Rs 2.5 crore in cash and Rs 3.4 crore via cheque, for promotional activities. ED will investigate regarding the remuneration paid to the Telugu superstar. 

ED recently raided the two groups, Surana Group and Sai Surya Developers. According to reports, the officials have uncovered illegal transactions worth Rs 100 crore and also seized Rs 74.5 lakhs cash. As reported by NDTV, the agency stated that the key evidence has been recovered from the residences of Surana Group chairman Narendra Surana and Managing Director Devendar Surana at Madhapur in Hyderabad's Jubilee Hills and Bowenpally. Some other shards of evidence have been gathered from the official premises of Sai Surya Developers. 

In a statement, the authority said "ED initiated investigation on the basis of several FIRs registered by Telangana Police against Narendra Surana, Director of M/s Bhagyanagar Properties Ltd., K Sathish Chandra Gupta, Proprietor of M/s Sai Surya Developers & others under various sections of IPC for defrauding and cheating gullible investors of their hard-earned money in the name of advance for sale of plots involving huge amounts." 

"Orchestrated fraudulent schemes involving unauthorised land layouts, selling same plots to different customers, accepting payments without proper agreements, and false assurances of plot registrations," it added. 

It also said, "Their actions caused financial losses to numerous investors. By cheating the general public with predetermined and dishonest intention, they generated proceeds of crime which was diverted and laundered for wrongful gain to themselves and related entities. The searches resulted in the seizure of incriminating documents evidencing details of amounts collected by fraudulent means from various investors as well as unaccounted cash transactions worth around Rs 100 crore. Unaccounted cash to the tune of Rs. 74.50 lakh was seized from the premises of Narendra Surana and M/s Surana Group of companies."