Shyam Prasad is a very wealthy actor who has a lot of success in film roles. Shyam began his career in 1987 with the film Talambralu. He then went on to work on films under the Mallemaala Entertainments banner. One of his most famous projects is the popular Telugu channel, ETV. In addition to his acting and producing work, Shyam also works as a television producer.
The ED, an enforcement agency, recently seized the assets of the Indu Group, the company Shyam Prasad Reddy owns. The ED had provisionally attached Rs 130 crore of Shyam Prasad Reddy’s businesses. The assets included 8648 acres of land in Anantapur, worth Rs 113 crore. Shyam Prasad Reddy allegedly used this land to clear debts.
The investigation into Shyam Prasad Reddy’s finances has revealed that he made illegal investments into Jagan Mohan Reddy’s companies, most likely in return for favours from the Andhra Pradesh government. Lepakshi Knowledge Hub Private Ltd was given 8,844 acres and Indu Techzone Private Ltd 250 acres. In addition, the Indu Group received numerous housing projects. Some of the irregularities were uncovered during a recent investigation by the ED.