Bollywood News: The Income Tax Department has conducted searches at multiple locations in Mumbai linked to Panorama Studios, producer Kumar Mangat Pathak and filmmaker Vashu Bhagnani. The operation, carried out on September 28, has reportedly focused on suspected financial irregularities connected with film-related transactions and alleged overseas movement of funds.
Reports say that around 12 locations were covered during the Income Tax operation. Officials are examining financial records, documents and transaction details as part of the ongoing investigation.
Income Tax Searches At 12 Mumbai Locations
According to reports, multiple teams of the Mumbai Income Tax Department simultaneously conducted searches at locations associated with the film industry personalities and production companies.
The investigation reportedly involves certain overseas transactions connected with film production, shooting expenses and international distribution. Officials are examining whether the transactions were properly disclosed and whether they complied with applicable tax regulations.
However, the exact transactions under investigation have not been publicly detailed, and the Income Tax Department has not announced any final findings.
Panorama Studios Linked To The Investigation
One of the major names connected with the searches is Panorama Studios, headed by producer Kumar Mangat Pathak.
The production house is known for backing several successful Hindi films, including the Drishyam franchise and Raid. Its latest major project, Drishyam: The Conclusion, starring Ajay Devgn, is scheduled to arrive in cinemas on October 2, 2026.
The current Income Tax action is separate from the film's story or release and relates to financial records and transactions reportedly being examined by authorities.
Vashu Bhagnani’s Locations Also Searched
Producer Vashu Bhagnani is another prominent name linked to the Income Tax searches. Bhagnani has been associated with Pooja Entertainment, a production banner that has worked on numerous Hindi films.
Reports indicate that locations connected with Bhagnani and his wider business ecosystem were also covered during the operation.
Officials are reportedly examining financial documents and overseas transaction records to understand the nature and purpose of the payments under scrutiny.
Rakul Preet Singh Also Linked To The Searches
Actress Rakul Preet Singh has also been mentioned in reports about the Income Tax operation. According to multiple reports, some of the locations under scrutiny were linked to Rakul and her family connections with the Bhagnani family.
Rakul is married to actor-producer Jackky Bhagnani, who is Vashu Bhagnani's son.
Importantly, the current Income Tax searches do not by themselves establish wrongdoing by Rakul Preet Singh or any other person whose premises were searched. The investigation is still underway, and the department has not publicly announced any final conclusion.
What Is The Income Tax Department Investigating?
Reports suggest that investigators are examining whether certain amounts were allegedly sent overseas in connection with film financing, production expenses, shooting and distribution.
The department is reportedly checking documents, account records and details of international transactions to establish the nature and purpose of the funds.
The Economic Times reported that officials are examining whether overseas remittances were genuinely connected to film-related expenses and whether they were correctly disclosed for tax purposes.
No Final Findings Have Been Announced
At this stage, the Income Tax operation remains an ongoing investigation. Searches are conducted to collect documents and other material that can help authorities examine suspected financial or tax irregularities.
There has been no public announcement establishing tax evasion or other wrongdoing by the individuals or companies named in reports about the searches.
Representatives of the concerned individuals and production houses had not issued a detailed response at the time of several reports.
Drishyam: The Conclusion Connection
The timing of the searches has also attracted attention because Panorama Studios is associated with Drishyam: The Conclusion, the upcoming Ajay Devgn-led thriller.
The film is scheduled for theatrical release on October 2, 2026, and brings back Ajay Devgn, Tabu and Shriya Saran, along with new additions including Jaideep Ahlawat and Prakash Raj.
The Income Tax investigation, however, concerns financial records and should not be confused with the film's storyline or certification.
Further Details Awaited
The Income Tax Department's examination of the documents and transactions is expected to determine whether any tax or financial violations occurred. More information could emerge as officials analyse the material collected during the searches.
For now, the searches involving Panorama Studios, Kumar Mangat Pathak, Vashu Bhagnani and locations linked to Rakul Preet Singh remain part of an ongoing inquiry. Any further action will depend on the findings of the investigation.
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