The Income Tax Department has launched a search operation at 12 locations in Mumbai linked to actor Rakul Preet Singh, her father-in-law and filmmaker Vashu Bhagnani, and production house Panorama Studios. The Mumbai Income Tax Department carried out the searches on September 28 as part of an investigation into suspected financial irregularities linked to film-related transactions. Officials are examining documents, financial records and details of alleged overseas transactions, according to reports.
The investigation reportedly examines whether funds were routed overseas under the guise of financing film projects. However, the Income Tax Department has not publicly detailed the specific transactions under scrutiny or announced any findings from the searches so far.
What Is Being Investigated?
Multiple Income Tax teams are said to be examining financial documents and records connected with the premises. Reports have linked the probe to suspected irregularities involving film financing and foreign remittances.
At this stage, the searches represent an ongoing investigation and do not by themselves establish tax evasion, financial wrongdoing or any other offence against Rakul Preet Singh, Vashu Bhagnani or the companies involved. Hindustan Times reported that attempts were made to contact Rakul’s team, the Bhagnanis and Panorama Studios, but no response had been received at the time of publication.
Why Rakul Preet Singh And Vashu Bhagnani Are Linked
Rakul is married to producer and actor Jackky Bhagnani, making Vashu Bhagnani her father-in-law. Vashu has been associated with Pooja Entertainment, while Panorama Studios is headed by producer Kumar Mangat Pathak, known for backing films including the Drishyam franchise.
The current Income Tax operation also comes at a significant time for Rakul’s film career. The actor has recently begun dubbing for Nitesh Tiwari’s Ramayana, in which she plays Surpanakha. The film, starring Ranbir Kapoor as Ram, Sai Pallavi as Sita and Yash as Ravana, is scheduled for a Diwali 2026 release. As the searches continue, further details about the financial transactions and the scope of the investigation are awaited.