ED initiates probe over suspicious inflow of black money in Malayalam cinema 

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Kochi: The Enforcement Directorate (ED) has begun investigation over suspicion that there is an inflow of black money into Malayalam film industry from abroad. Reportedly, ED has quizzed a prominent producer on the basis of the income tax department’s probe report in this regard.

As per reports, the producer, including six others, are currently under the surveillance of ED and the income tax department. Last year, extensive tax raids were carried out at their residences and offices.

The ED is aiming to figure out whether the foreign inflow of money into the Malayalam film industry violates the Foreign Exchange Management Act (FEMA). On account of this, a producer has been subjected to interrogation at the ED office in Kochi for the past two days.

However, details about whether a case has been registered is yet to be known. Apparently, central agencies had received information that black money was flowing into Malayalam cinema by presenting benamis as producers.

Furthermore, hints suggest that chartered accountants, who are aware about the producer’s account details, are likely to be questioned too.

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