Hyderabad: Searches at Asian Cinemas, Rs 1 crore seized

HYDERABAD: Income tax sleuths of Hyderabad unit on Tuesday conducted searches at Asian Cinema & Multiplexes Private Limited and Skill Promoters Infra Private Limited. Officials seized around Rs 1 crore in cash during the searches conducted at Parklane, Sarath City Capital Mall in Kothaguda and in Banjara Hills.
Skill Promoters Private Limited are the builders for the Sarath City Capital Mall and Narang is one of the land owners.
Searches were also conducted at houses of Narayandas and Sunil Narang and promoters of builders of Sarath City Captial Mall. Asian Cinema and Multiplexes was incorporated in January 2008 and has four directors Narayandas Kishandas, Narang Bharat, Sunil Narang and Suresh Babu Daggubati. The company's registered office is located at Banjara Hills in Hyderabad.
Skill Promoters Infra Private Limited was incorporated in August, 2014 and is located in Banjara Hills. It has four directors Mohammed Syed Salam, Syed Naveeduddin Ahmed Quadri, Boppana Sarat Gopal, Boppana Tara Chand, and others. Tollywood actor Mahesh Babu’s AMB cinemas is located in the mall. When contacted by TOI, Sunil Narang is not available for comment.