Mammootty, Mohanlal to settle IT dues

Malayalam cinema's superstars Mammootty and Mohanlal, whose homes and offices in Kochi, Thiruvananthapuram, Chennai and Bengaluru were raided by the Income Tax (IT) department on July 22, have admitted to having assets beyond their known sources of income.

Both the actors have now agreed to settle their dues. They have also added that they will carry out their audits properly in the future and keep a close eye on monitoring their revenues.

Earlier, some reports said the IT department had acted on a confidential tip from certain agencies on the business modules worked out by the superstars in the Middle East for satellite rights. However, the authorities did not have enough evidence to substantiate that claim at the time.

While actor Mohanlal's residence in Mudavanmugal, Thiruvananthapuram and in Thevara, Kochi, was raided, Mammootty's house in Panampally Nagar, Kochi, was raided by the IT department.

Mammootty's production company Play House and Mohanlal's Studio Max Labs too, were raided alongwith the homes of their close aides.

The actors had been boasting of properties in and out the country, and this was also a factor that prompted the authorities to look into their monetary affairs closely.

Actor Mohanlal has been claiming to have flats in the Burj Khaleefa, Dubai, while Mammootty is said to have announced his multiple investments in various properties including a hospital in Bangaluru besides real estate investments inside and outside Kerala.

Earlier, Income Tax officials had questioned Mammootty in Kochi for nearly seven hours on July 22nd. The officials had also recorded Mohanlal's statement in Rameshwaram, where he was shooting for a film at the time.

The I-T Department had said then that the actors may be summoned for further questioning ahead. The two superstars, who have dominated the Malayalam film industry for over three decades, have several business interests.

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.

While Mohanlal was reportedly planning to bid for an IPL team with director Priyadarshan and owns some hotels in Bangaluru, he had recently reportedly purchased a plush house in the world's tallest tower, Burj Khalifa, in Dubai.

He was awarded the Padma Shri for his contribution to Indian cinema in 2001. He has won four National Film Awards and his notable roles include those in Vaanaprastham and Bharatham.