ED searches were underway at around eight premises in Chennai after the agency reportedly registered a money laundering case against the production house.
Enforcement Directorate (ED) officials on Tuesday conducted searches on the premises of film production company Lyca in Chennai, reports claimed. Searches were being held in different locations in the city, news agency PTI reported citing sources, who did not divulge details.
There was no immediate response from the production company regarding the raids, PTI added.
Lyca produced the box-office hit movies Ponniyin Selvan 1 and 2. Searches were underway at around eight premises in Chennai after the central probe agency registered a money laundering case against the production house, NDTV reported.
Lyca Productions was established by Subaskaran Allirajah in 2014. A subgroup of Lycamobile, the production studio has been involved in the production and distribution of films made in South India.
Earlier ED said it had carried out search operations at 21 locations in Delhi and Gurugram in connection with Amira Pure Foods Private Limited, Karan A Chanana and others under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA).
The searches were conducted by the ED on May 2 in which, cash amounting to ₹1.01 crore and various incriminating pieces of evidence were seized which shows the modus operandi of the accused entity for diverting the loan funds through shell companies, accommodation entries, fudging and manipulation of stocks, mentions the official statement.
According to the ED, the action against the accused entities came on the basis of an FIR registered by CBI against Karan A Chanana, his relatives, Amira Pure Foods Pvt. Ltd. and others under various sections of IPC, 1860 for committing fraud, criminal misappropriation, criminal breach of trust, cheating, etc. causing wrongful loss to the tune of approx--Rs. 1201.85 crore to the consortium of banks led by Canara Bank.
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