Prasad multiplex gets serious notices from telangana tourism

Vastavam web: Telangana Tourism Department has served serious notices to Prasad Multiplex Management. One of the largest family entertainment centers serving Hyderabad and Telangana population from 2003 can be deep buried in problems if notices served aren’t answered in stipulated time. As per available reports, Prasad Multiplex evaded taxes of approximately Rs. 10 Crores in last few years showing major loopholes in agreements made with Andhra Pradesh Government during the times when state was undivided when 2 acres land was leased at very nominal price for 33 years period. According to agreement, Prasad Multiplex is paying Rs. 12 Lakhs per month of nominal land rent and a share of 15 percent from income earned through various business activities at the centre.