Income Tax Raids on Sunil Narang, Asian Cinemas

Income Tax Raids on Sunil Narang, Asian Cinemas
Income Tax Raids on Sunil Narang, Asian Cinemas

Sunil Narang of Asian Cinemas is popular as a leading Distributor and Financier. While continuing the family legacy in this field, Sunil Narag left a mark of his own in the Film Business, and also emerged as a big shot in Theatre Business & Real Estate. With the help of Superstar Mahesh Babu, Mega Producer Allu Aravind, Stylish Star Allu Arjun and noted producer  D Suresh Babu, Sunil Narang has been spreading the Asian Cinemas network to various cities.

His business Empire has been expanded with Massive Malls equipped with Multiplexes having state-of-the-art infrastructure.  According to the latest buzz in the film Industry, the income tax (IT) officials raided Sunil Narag’ house and office. On Tuesday, the  Income Tax carried out raids on the residences and offices of Sunil Narang and Narayana Das Narang, producers and distributors.

IT officials searches on the offices of popular film production and distribution company Asian Cinema in Hyderabad and other parts of the country. Further details of the IT raids are awaited.

The Asian Cinemas has multiple interests in the movie business – distribution, the film production, and theater business. Sunil Narag’ Asian Cinemas, are also partners with Telugu Superstar Mahesh Babu in AMB Cinemas, a multiplex mall in Gachibowli in Hyderabad.

When it comes to business, Sunil Narang won’t mind to compete with the best in the market. There was a time Sunil Nararg took over someone like Dil Raju and bagged the Distribution Rights of biggies.

 Currently the production house Asian Cinemas is bankrolling Sekhar Kammula’ production venture in Akkineni Naga Chaitanya and Sai Pallavi are playing the lead roles. The movie is based on  Telangana backdrop and deals with sensitive subjects like caste discrimination and sexual exploitation. It is heard that Sunil Narang has also given huge advances to several directors and actors in the hope of bankrolling big movies.