Probe reportedly focuses on suspected financial irregularities and alleged overseas fund transfers linked to film projects
Mumbai, September 28, 2026: The Income Tax Department on Monday conducted search operations at around 12 locations in Mumbai linked to actress Rakul Preet Singh, filmmaker and producer Vashu Bhagnani, and Panorama Studios, according to multiple media reports.
The searches are reportedly part of an ongoing investigation into suspected financial irregularities, possible tax violations and alleged overseas movement of funds connected with film-related activities.
What is the Income Tax Department examining?
According to reports, officials are examining financial records, transaction documents and details of overseas remittances associated with film production, shooting expenses and distribution activities.
Investigators are reportedly looking into allegations that substantial amounts may have been transferred abroad under the stated heads of film shoots, production expenses and overseas distribution. The purpose and nature of the transactions are yet to be established publicly.
The searches were reportedly being carried out simultaneously by multiple Income Tax teams at different premises in Mumbai.
Rakul Preet Singh’s name in the investigation
Actor Rakul Preet Singh is among the individuals whose premises have reportedly come under the Income Tax Department’s scrutiny.
However, it is important to distinguish between being linked to a search operation and being accused or found guilty of a tax offence. As of the latest reports available on September 28, the Income Tax Department has not publicly announced any final finding against Rakul Preet Singh.
Vashu Bhagnani and Panorama Studios
Veteran producer Vashu Bhagnani, associated with Pooja Entertainment, is also reportedly linked to the searches. Panorama Studios, headed by Kumar Mangat Pathak and Abhishek Pathak, is another production company whose premises are reportedly being examined.
Panorama Studios has been associated with films including the Drishyam franchise, Raid, Shaitaan and Pyaar Ka Punchnama. The development comes just days before the scheduled October 2 release of Drishyam: The Conclusion.
Ali Abbas Zafar also reportedly under scrutiny
One report from Bollywood Hungama additionally said that a search operation was underway at filmmaker Ali Abbas Zafar’s office. The report said the investigation was examining alleged overseas payments connected with film shoots, foreign distribution and production expenses.
No final conclusions yet
The Income Tax searches are part of an ongoing investigation. Reports currently available do not establish that tax evasion or any other wrongdoing has been proved against the individuals or companies involved.
Further details—including the exact transactions under examination, the amount allegedly transferred overseas, and whether the department will initiate further proceedings—are expected to become clearer after the searches and examination of the financial records are completed.
