The Income Tax officials are conducting searching operations in Ramanaidu studio and Suresh Productions offices in Hyderabad.
Suresh Babu has been distributing small films in a big way. He owns Ramanaidu Studios in Hyderabad and Vizag and runs many theaters in both the Telugu states.
The raids on Suresh Productions is following the IT raids on Sunil Narang of Asian Cinemas. Since Sunil and Suresh Babu are known for their business association, the IT raids on Suresh Babu and his offices have gained a lot of significance.
Contradicting to the statement, Only a few days ago, Suresh Babu in an interview revealed that his Theater business is going through turbulent times with the movie collections not even meeting the electricity charges forget about the salaries.