Rakul Preet Singh, Vashu Bhagnani and Panorama Studios on Income Tax radar as department searches 12 Mumbai locations over alleged overseas fund transactions |
The Income Tax Department is conducting searches at multiple Mumbai locations associated with actor Rakul Preet Singh, film producer Vashu Bhagnani and Panorama Studios. The operation is reportedly connected to an investigation into suspected financial irregularities involving film-related transactions and the alleged movement of funds overseas.According to a report by NDTV, officials from the Mumbai Income Tax Department are carrying out searches at 12 locations. Teams are examining financial documents, transaction records and other material as they investigate allegations that money linked to film financing may have been transferred abroad.
Financial records under scrutiny
The ongoing operation involves multiple Income Tax teams checking documents and financial records at premises associated with the individuals and company named in the reports.The department is reportedly looking into overseas transactions connected with film projects, although specific details about the payments or the alleged irregularities have not been disclosed so far. The examination of records is expected to establish the nature and purpose of the transactions under investigation.A search by the Income Tax Department does not by itself establish wrongdoing, and the investigation is still underway.
Aman Preet Singh was named in a drug case in 2025
The latest Income Tax action comes after a separate case involving Rakul’s family last year. In December 2025, Mumbai Police reportedly searched for her brother Aman Preet Singh in connection with a drug-related investigation.The development followed an operation carried out by the Elite Action Group for Drug Law Enforcement (EAGLE) Force along with West Zone police on December 19, 2025. Two businessmen were arrested during the operation on allegations of drug peddling.According to reports, police recovered 43 grams of cocaine and 11.5 grams of MDMA from the two accused. Aman was suspected of having allegedly purchased drugs from them on five occasions. The drug case and the current Income Tax investigation are separate matters.
Rakul Preet Singh’s upcoming projects
On the film front, Rakul is set to appear as Surpanakha in Nitesh Tiwari’s ‘Ramayana’. The actor has recently started dubbing for the film ahead of its Diwali 2026 release.The mythological epic features Ranbir Kapoor as Lord Ram, Sai Pallavi as Sita, Yash as Ravana and Ravie Dubey as Lakshman.
Vashu Bhagnani’s production banner
Vashu Bhagnani has been associated with Puja Films for several years, with the production house now being led by his son Jackky Bhagnani. The banner has worked across theatrical releases, digital projects and other entertainment ventures.Its recent theatrical release was ‘Hai Jawani Toh Ishq Hona Hai’.As the Income Tax Department continues examining the financial records connected with the current searches, further details about the transactions under investigation are awaited.
