30 crores in unaccounted assets

In an embarrassment for top Malayalam film stars Mammootty and Mohanlal the Income Tax department today revealed that both actors have undisclosed assets worth about Rs 30 crore.

Income Tax officials had conducted extensive raids on residences and business establishments of the two superstars spread across three southern states on July 23.

In a statement, the investigation wing of the Income Tax Department said, cash and jewellery amounting to nearly Rs 3 crore were also seized during the raids.

Officials said the undisclosed income was found to have been invested in real estate and assets abroad. The Income Tax officials said further investigations are being conducted and a final report will be prepared within two months.

IT officials question Mammootty for seven hours

Income Tax officials questioned Malayalam superstar Mammootty in Kochi for nearly seven hours, ending at 3:00 am on Saturday morning. The actor returned from Chennai last night.

Income Tax officials also recorded Malayalam superstar Mohanlal's statement in Rameshwaram, where he is shooting for a film.

Sources in the I-T Department say the actors may be summoned for further questioning in the coming days. Tax officials say they are examining documents seized during the raid.

So far, both actors have refrained from speaking to the media.

On Friday (July 22) the Income Tax department raided multiple offices and residences of Malayalam superstars Mammootty and Mohanlal, in Kerala, Tamil Nadu and Karnataka. There were simultaneous raids at 18 locations in five cities. The raids were based on a tip off that the I-T returns filed by the superstars were disproportionate to their known sources of income.

Taxmen also raided Mohanlal's production and distribution companies Max Labs and Ashirwad House. A film studio owned by Mohanlal, Viesmaya Cinemax, was also raided.

The two superstars, who have dominated the Malayalam film industry for over three decades, have several business interests. Mammootty owns a distribution company called Playhouse Entertainment, and is also the chairman and major stakeholder of a Malayalam satellite channel. He reportedly has several business interests in the Middle East too.

In a career spanning more than three decades, Mammootty has won the National Award thrice, for Dr. Ambedkar (1988), Oru Vadakkan Veeragatha, Mathilukal (1989) and Vidheyan, Ponthan Mada (1993) . He has acted in more than 360 films, including a few Tamil, Telugu and Hindi films.

Income Tax sleuths visit Mohanlal's house again

I-T sleuths Tuesday arrived at Malayalam superstar Mohanlal's home for the second time as part of their investigation into reports that he has amassed wealth disproportionate to his known sources of income.

The four-member I-T team was back at the superstar's residence after they were unable to open two bio-metric locks that can be opened using the fingerprint of the superstar or his immediate family members.

Mohanlal was away at a shoot in Rameshwaram in Tamil Nadu.

Last week, the I-T sleuths searched 20 places, including the homes and offices of Mohanlal and Mammootty and also of their close business associates.

While Mammootty has already deposed before the IT investigators, Mohanlal was interrogated by I-T officials at the shooting location last week.

The officials have already recovered a pair of elephant tusks from Mohanlal's home. As per the law, only those who have the necessary license can keep ivory tusks, if not a case can be registered.

Though the Income Tax representatives are tight-lipped about what they have found out from the two, both are known to have huge business interests outside the film industry, especially real estate holdings.

According to reports, the team zeroed in on the two after getting leads that they had parked a good portion of their income in Dubai to avoid tax.

The raids seem to have affected Mohanlal adversely as calls have come from certain quarters urging that his honorary rank of Lt. Colonel in the Territorial Army be withdrawn because he is not an ideal role model.

Meanwhile, as the I-T officials are preparing a detailed report on their findings, friends and close associates of the two rival superstars have headed to Delhi to see that minimum damage is caused to their reputations.

Oru Naal Varum..

Malayalam Superstar, Mohanlal’s film with Sameera, Oru Naal Varum is to be dubbed and released in Tamil with the same name.

The movie although did not fare well at the box office in Kerala is to be released in Tamil considering the huge fan base for both the Malayalam Superstar and the glamorous Sameera in Tamil Nadu.

The film that is written by actor Sreenivasan and directed by Rajeev Kumar is about an ordinary man who just wants to build a house of his own but has to face lot of difficulties to do so.