Homeentertainment News

    Who is Anbu Chezhiyan, the Madurai-based financier under I-T scanner?

    Who is Anbu Chezhiyan, the Madurai-based financier under I-T scanner?

    Who is Anbu Chezhiyan, the Madurai-based financier under I-T scanner?
    Read Time
    3 Min(s) Read
    Profile image

    By CNBCTV18.com  IST (Published)

    Mini

    The I-T department conducted raids in over 40 locations in Madurai and 10 locations in Chennai, including Anbu Chezhiyan’s residence and Gopapuram Films offices

    In a massive crackdown against one of the top financiers of the Tamil film industry, Income Tax Department officials are conducting raids at 50 locations linked with GN Anbu Chezhiyan on Tuesday. The I-T department conducted raids in over 40 locations in Madurai and 10 locations in Chennai, including Anbu Chezhiyan’s residence and Gopapuram Films offices.
    Anbu Chezhiyan has been under the I-T scanner since February 2020. Two years back, the I-T department had searched the residences and offices of four people, including actor Vijay, his distributor Sundar Arumugam, and Anbu Chezhiyan.
    Who is Anbu Chezhiyan?
    Madurai-based Anbu Chezhiyan is a well-known film financier and the managing director of Gopuram Films, a production house that produces and distributes films. The top financier has been previously linked to allegations of harassment over loan recovery. He is believed to lend money to other producers by taking their properties as lease. He takes control over the properties once the producer defaults on payments. He started as a money lender, giving loans to small-scale shopkeepers, and slowly rose to prominence in the film industry.
    Arrests and controversy
    In 2003, Anbu Chezhiyan and his modes of harassment came to the fore after producer Ashok Kumar, who was also the cousin of director Sasikumar, committed suicide. In his suicide note, Ashok Kumar said Anbu Chezhiyan harassed him to settle loans. Anbu Chezhiyan was booked for abetment of suicide in 2017.
    The same year, another well-known producer and brother of ace director Mani Ratnam G Venkateswaran, too committed suicide, which gave rise to rumours about pressure from financiers. To clear the air, Anbu Chezhiyan held a press conference to announce that he had not lent money to Venkateswaran, The Week reported.
    In 2011, Anbu Chezhiyan was arrested when a producer complained that the financier was threatening him despite settling a loan, The News Minute reported.
    How does he work?
    According to several players in the Kollywood industry, Anbu Chezhiyan withholds written loan agreements, promissory notes, blank cheques or security cheques, even after clearing the loans, to use them as leverage later.
    In the case of one producer, Anbu Chezhiyan retained the documents and took money for three consecutive years even though the loan was repaid the same year, The News Minute quoted a source as saying earlier.
    A senior film journalist said despite his alleged notorious ways, directors and producers had to take the help of the financier as he was resourceful and well “understands the requirements in the industry”.
     
     
     

    Previous Article

    Indian Film Festival of Melbourne 2022 — full list of nominations

    Next Article

    TikTok's new music feature aims to take on Spotify and Apple Music

    arrow down

      Market Movers

      View All
      CompanyPriceChng%Chng