The Income Tax Department conducted searches at several locations in Mumbai on Monday linked to actor Rakul Preet Singh, filmmaker Vashu Bhagnani and Kumar Mangat-led Panorama Studios.
According to TV9, officials searched 12 locations over suspected fund irregularities. The investigation reportedly focuses on alleged financial transactions involving funds being routed overseas under the guise of film financing.
Multiple teams are examining documents, financial records and alleged overseas transactions, though officials have not yet disclosed further details.
Rakul’s husband Jackky Bhagnani and father-in-law Vashu Bhagnani run Pooja Entertainment, which has produced more than 40 films. Panorama Studios, headed by Kumar Mangat, is known for films including ‘Raid’ and the ‘Drishyam’ franchise.
Rakul’s team, the Bhagnanis and Mangat were contacted for comment but had not responded by press time. The searches were reportedly still underway when the report was filed.
