The Income Tax Department recently inspected actor Soubin Shahir’s office in connection with financial irregularities. The raid was conducted at the Parava Films Company office and the Dream Big Distributors office in Pullappadi, Kochi. This investigation, led by the Kochi unit of the Income Tax Department, primarily focuses on the financial transactions and funding sources of both companies.
The scrutiny follows a complaint filed by Siraj Valiyaveet, a businessman from Arur, Alappuzha. He alleged that Soubin Shahir and Parava Films deceived him concerning the movie Manjummel Boys. According to Siraj, he invested Rs 7 crore in the film but was not compensated with the promised profit or even his initial investment. This accusation has drawn significant attention, prompting authorities to delve deeper into the financial dealings of the involved parties. Siraj alleged that despite investing Rs 7 crore in the film, he was denied his promised 40 per cent share of profits. This dispute over profit-sharing raised red flags, prompting the ED to investigate potential financial irregularities.
The ongoing IT raids are expected to delve into the financial records of the two companies to verify the claims and investigate the source of their funds. This development marks a significant escalation in the case, with authorities aiming to uncover any evidence of fraudulent financial practices. Further developments in the case are awaited as the investigation continues.
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