The Income Tax (IT) Department has launched extensive search operations at 12 locations across Mumbai connected to prominent Bollywood figures, including actor Rakul Preet Singh, film producer Vashu Bhagnani, and film production house Panorama Studios.
The crackdown centers on allegations of financial irregularities involving overseas fund transfers. Investigative teams are examining whether substantial capital was routed out of the country under the pretext of financing international film production, overseas distribution, and abroad shooting projects.
Multiple teams from the Mumbai Income Tax Department arrived at premises linked to the key entities early in the day to scrutinize financial documents, ledger entries, and cross-border bank records:
- Rakul Preet Singh & The Bhagnani Family: Searches include properties linked to actor Rakul Preet Singh and her father-in-law, veteran film producer Vashu Bhagnani (founder of Pooja Entertainment). Rakul Preet is married to actor-producer Jackky Bhagnani.
- Panorama Studios: Locations connected to Panorama Studios—a major production and distribution banner known for major commercial releases like the Drishyam franchise—were also searched as part of the broader financial inquiry.
Tax officials are verifying whether foreign transactions executed by these film banners adhered to Indian regulatory standards and tax laws, or if funds were illegally siphoned abroad using film budgets as a cover.
Authorities have not formally issued statement charges or made findings public as financial verification remains ongoing across all 12 premises.
