In a letter to the Enforcement Directorate (ED), Tollywood actor Mahesh Babu sought a new date for an investigation into a brand endorsement matter, alleging that his filming schedule would prevent him from attending. The ED recently called the actor and requested that he appear before the authorities on Sunday.
According to the earlier arrangement, Mahesh Babu was supposed to appear before the authorities on Sunday.
He chose not to go, however, and instead sent a letter to the ED authorities outlining his reasoning.
The matter concerns his compensation for marketing the real estate projects of Sai Surya Developers and the city-based Surana Group. As the brand ambassador for these two real estate companies, Mahesh Babu allegedly earned more than Rs 11 crore for his appearances in their ads.
According to reports, Mahesh Babu was paid Rs 5.5 crore for promotional work by Surana Group and Rs 5.9 crore by Sai Surya Developers. According to reports, Sai Surya Developers, the subject of the probe, sent him Rs 3.4 crore in checks and Rs 2.5 crore in cash.
A week after conducting searches at the Hyderabad real estate companies’ locations, the ED sent Mahesh Babu the notice. As part of an ongoing investigation into Sai Surya Developers and others, the agency said that it had uncovered unreported financial transactions of Rs 100 crore and confiscated Rs 74.50 lakh in cash during searches.
According to the ED, it opened an investigation after Telangana Police filed multiple formal complaints against Sai Surya Developers, Bhagyanagar Properties Ltd of Surana Group, and others under different IPC sections for defrauding and cheating unsuspecting customers out of their hard-earned money in the form of advance payments for the sale of plots worth enormous sums.