Kochi: The Enforcement directorate has begun an investigation over the alleged inflation of ticket collection figures and production costs in Malayalam cinema for the past five years after few producers have shared inputs with the investigation team who are probing the financial fraud in connection with the revenue sharing over Malayalam blockbuster ‘Manjummel Boys’.
As part of the probe, the officials of the ED have begun collecting the ticket collection details of the Superhit Malayalam movies from the prominent theatre groups in Kerala including INOX theatre from Kochi and Thiruvananthapuram.
As per an ED official in Kochi, two filmmakers have provided details of black money practices that has been active in the industry in the past five years.
“It is very early to say on the nature of the black money practices. But we have got crucial information from a prominent film maker and we have already begun the figures by approaching the theatre owners”, said the official to TV9.
The ED has now begun collecting financial information from production groups over the cost incurred, investments from abroad, payments made and the theatre revenues over the past five years.
“There have been serious concerns in the ticket collection figures of Malayalam cinema. The figures put out by many of the production groups in social media are by omitting the tax and GST part. Since demonetization, there has been a considerable reduction in black money dealing across the industry. Even after rules being made stricter, there are few apprehensions over the collection figures and we have been raising the matter. The agencies should probe the matter in detail”, said actor-producer Suresh Kumar to TV9.
He added that the ED officials have collected information from three major theatre groups including INOX in the last two days and more theatres will have to provide the information on collection details.
As per Facebook and social media handles of the top production houses, Malayalam cinema was able to churn Rs 600 crores in the first five months. It is this claim that has now raised suspicion and have come under the scanner of the investigation agency.
Suresh Shenoy, the owner of Shenoy’s theatre group, one of the oldest theatre houses in the state who spoke to TV9 said that if an allegation is made by two producers on black money conversion, the agency should collect all the information and ensure a thorough probe, else there will be a cloud of suspicion over the entire fraternity.
“The ED should actually probe the source of the money trail. As far as ticket collection inflation is concerned, it will be difficult for them to prove the black money transaction. The ED should get to the bottom and the root of the money trail and ensure that there is no black money is involved. These kinds of allegations bring a lot of bad names to the entire industry because of few people who might have been involved into such practices”, said Suresh Shenoy to TV9.
The ED began probe after one of the investor of ‘Manjummel boys’, a superhit Malayalam movie filed a complaint against the production group for allegedly cheating him on profit sharing.
The Enforcement directorate has begun an investigation over the alleged inflation of ticket collection figures and production costs in Malayalam cinema for the past five years after few producers have shared inputs with the investigation team who are probing the financial fraud in connection with the revenue sharing over Malayalam blockbuster ‘Manjummel Boys’. Kerala States News India: Top News India, States News, States News Headlines, Online State News India, State Politics news
