A surprising financial issue is reportedly creating a buzz in Film Nagar.
A prominent production house and its sister banner operate from the same office and are managed by same accounts’ office.
The main banner mostly produces films with a top director, while the sister concern produces films across different genres and is also involved in film distribution.
The head of the sister banner reportedly needs funds for various production and distribution activities. He is said to have been borrowing money from outside sources on interest.
According to industry talk, two accountants working at the main production house allegedly withdrew money from the company’s account without the knowledge of its head. They reportedly handed this money to the head of the sister banner.
What makes the matter more surprising is the alleged way the transaction was presented. The two accountants reportedly made it appear as though the money had been brought in from outside and given to the sister-banner head as an interest-based loan.
In a way, the accountants allegedly lent the company’s own money back to its own people and charged interest on it for their personal gain.
The incident allegedly took place while the producers had complete trust in their accountants and relied on them to handle the company’s finances. Amid the young producer’s existing professional challenges, the alleged betrayal by the accountants has added to the situation.
A detailed probe is now reportedly underway to find out whether similar financial irregularities may have taken place in the past as well.
