The Income Tax Department has reportedly begun search operations at around 12 locations in Mumbai linked to actor Rakul Preet Singh, filmmaker and producer Vashu Bhagnani and Panorama Studios. The searches were carried out on Monday, September 28, as officials examined financial records connected to the film industry.
As per media reports, the Mumbai Income Tax Department is looking into suspected irregularities involving funds associated with film projects. Officials are reportedly examining allegations that money may have been transferred overseas under the stated heads of film production, shooting and international distribution.
Multiple teams are said to be involved in the operation, with documents, financial records and transaction details being examined at the locations under scrutiny. Reports suggest that the department is attempting to trace the financial trail and understand the nature of the alleged overseas transactions.
Rakul Preet Singh’s name has surfaced in the reports in connection with the searches. The actor is married to actor-producer Jackky Bhagnani, son of Vashu Bhagnani. The Bhagnani family has been associated with Pooja Entertainment, which has produced several Hindi films over the years.
Vashu Bhagnani has been associated with films including Coolie No. 1, Hero No. 1 and Biwi No. 1, among other projects. Panorama Studios, meanwhile, is led by filmmaker-producer Kumar Mangat Pathak and has been associated with films and franchises including Drishyam and Raid.
According to reports, the exact nature of the transactions being examined and the amount involved have not been disclosed at this stage. The search proceedings are reportedly still underway, and officials are continuing to examine documents and other financial material.
It is important to note that the searches are part of an ongoing investigation. No official findings establishing tax violations or wrongdoing by the individuals or entities named in the reports have been publicly announced so far. Further details are expected as the Income Tax Department’s examination progresses.
