The Enforcement Directorate is carrying out a search operation at the premises of LYCA Productions, which produced the box-office hit movies Ponniyin Selvan 1 and 2, in Tamil Nadu capital Chennai. Presently, searches have been going on nearly eight premises in the capital city soon after ED registered a money laundering case against the production house, according to reports.
According to sources, ED raid is said to be related to a FEMA charge against LYCA which also holds multiple brands including LYCA mobiles. PMLA charge has also been added, reports India Today.
Lyca Productions is an Indian entertainment company. A subgroup of Lycamobile, the production studio has been involved in the production and distribution of films made in South India.
LYCA Productions has produced several big-budget multi-starar movies such as the Ponniyin Selvan franchise and 2.0 starring Rajinikanth and Akshay Kumar.
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