Enforcement Directorate (ED) officials conducted searches at different locations related to film production company Lyca in Chennai. This comes after the central registered a money laundering case against the production house which is also the production company of famous and successful film Ponniyin Selvan 1 and 2, which made tremendous collections at the box office and gained much love from the audience.
The ED searches were conducted at around 8 places located in Chennai but there was no reply from the production company over the news of ED searches. Even before this, ED had conducted searches at 21 locations in Delhi and gurugram in link with Amira Pure Foods Private Limited and Karan A Chanana along with others under Prevention of Money Laundering Act, 2002 (PMLA).
The searches that were conducted on May 2 resulted in the discovery of cash which was rupees 1.01 crore along with many important evidences and incriminating files which were later seized. Karan A Chanana had diverted loan funds through shell companies, accommodated entries, manipulating stocks. Lyca Productions was founded by Subaskaran Allirajah around 9-10 years ago.