ED issues notice to actor Mahesh Babu in ongoing money laundering investigation

Hyderabad– The Enforcement Directorate (ED) has issued a notice to Telugu film star Mahesh Babu, summoning him to appear for questioning on April 27 as part of a money laundering investigation linked to the Surana Group and Sai Surya Developers.

This notice comes in the wake of recent raids by ED officials on properties associated with these two companies. During these operations, significant amounts of unaccounted cash were recovered, including from the residence of Narendra Surana, Managing Director of Surana Industries, located in the Boyinapalli area of Secunderabad.

Similar cash seizures also occurred at the home of Satish Chandragupta, Managing Director of Sai Surya Developers. Authorities confiscated several incriminating documents during the raids at the offices of both firms.

Transactions Involving Mahesh Babu Under Scrutiny

According to sources, the ED’s interest in Mahesh Babu was triggered by the discovery of transactions totalling ₹5.9 crore from the two companies. These payments reportedly consisted of ₹3.4 crore in cash and ₹2.5 crore via RTGS, allegedly made for promotional activities.

ED Raids and Financial Fraud Allegations

The ED conducted its latest raids on April 16 at multiple locations linked to the Surana Group and Sai Surya Developers in Hyderabad. This investigation is rooted in a case registered by Cyberabad Police against Sai Surya Developers, whose Managing Director, Satish Chandragupta, was recently arrested for allegedly fraudulently collecting investments for a real estate project in Vatti Nagulapalli.

Further investigations have revealed that the Surana Group is entangled in a major financial scam involving ₹3,986 crore in defaulted loans from three banks. The Central Bureau of Investigation (CBI) has already opened three cases related to this fraud.

The ED has filed cases under the Prevention of Money Laundering Act (PMLA) against the Surana Group and its key promoters. During earlier raids in 2021, the agency seized gold and cash worth ₹11.62 crore. Additionally, immovable assets valued at ₹113.32 crore belonging to the group were attached as part of the ongoing investigation.

Allegations of Shell Companies and Offshore Diversions

The ED alleges that the Surana Group used shell companies and dummy directors—including entities registered in the Cayman Islands and British Virgin Islands—to siphon off bank funds and launder money. Some of these diverted funds were reportedly routed through Singapore-based firms to acquire assets under Benami names.

In 2022, the ED arrested Dinesh Chand Surana and Vijay Raj Surana, both promoters of the Surana Group, along with associate Anand Prabhakaran, who was allegedly a front director in the group’s financial operations.