In a major development that has sent ripples across the film industry, the Income Tax Department on Monday, September 28, conducted search operations at around 12 locations in Mumbai linked to actor Rakul Preet Singh, her father-in-law and veteran producer Vashu Bhagnani, and Panorama Studios. Bollywood Hungama has further learnt that a search operation is also underway at filmmaker Ali Abbas Zafar’s office.
According to a report in TV9, the action was initiated following information received by the Income Tax Department regarding substantial sums allegedly being remitted overseas under heads such as film shoots, foreign distribution and production expenses. Investigating officials are reportedly examining whether these transactions involved tax evasion or other financial irregularities.
Multiple teams of the Income Tax Department are carrying out searches and examining documents and financial records at various premises across Mumbai. At the time of publishing, the operations were still underway and further details regarding the scope and findings of the searches were awaited. It must be noted that the searches are part of an ongoing investigation, and no final findings or conclusions have been officially announced so far.
Rakul Preet Singh is one of the leading actors working across Hindi and South Indian cinema. She became a part of the Bhagnani family after marrying actor-producer Jackky Bhagnani, son of Vashu Bhagnani, in 2024.
Vashu Bhagnani, meanwhile, is one of Hindi cinema’s well-known producers and has backed films such as Coolie No 1 (1995), Hero No 1 (1997), Biwi No 1 (1999), Mujhe Kucch Kehna Hai (2001), Rehnaa Hai Terre Dil Mein (2001), Bade Miyan Chote Miyan (2024), etc.
Ali Abbas Zafar has directed several major Hindi films including Gunday (2014), Sultan (2016), Tiger Zinda Hai (2017), Bharat (2019), Bade Miyan Chote Miyan (2024), etc, while also producing multiple projects.
Panorama Studios, headed by Kumar Mangat Pathak and Abhishek Pathak, has been associated with films including Pyaar Ka Punchnama (2011), Raid (2018), Khuda Haafiz (2020), Shaitaan (2024), etc. The banner is currently gearing up for the release of the keenly awaited Drishyam The Conclusion, which arrives in cinemas this Friday, October 2.
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