Income Tax Department Searches 12 Mumbai Locations Linked to Rakul Preet Singh, Vashu Bhagnani and Panorama Studios

Income Tax Department Conducts Searches at 12 Mumbai Locations

The Income Tax Department conducted search operations at around 12 locations in Mumbai on September 28, with premises linked to actor Rakul Preet Singh, producer Vashu Bhagnani and Panorama Studios among those reported to be under scrutiny.

The searches are reportedly connected to an ongoing examination of film-related financial transactions and alleged overseas fund transfers. Officials are understood to be examining documents, financial records and details of transactions associated with film financing and production. No final findings or tax violations have been publicly established at this stage.

What is the Income Tax Department examining?

According to multiple reports, the investigation centres on concerns over money allegedly being transferred overseas under categories connected with film production, shooting expenses and international distribution.

NDTV reported that investigators were examining whether funds were routed abroad under the guise of financing film projects. The Economic Times separately reported that the searches involved scrutiny of foreign remittances and possible tax-related irregularities.

However, the exact transactions under examination, the amount involved and whether any violation has actually occurred have not been publicly disclosed by the Income Tax Department.

That distinction is important: a search operation is part of an investigation and does not by itself establish tax evasion or wrongdoing.

Rakul Preet Singh's connection to the investigation

Rakul Preet Singh has been linked to the searches because of premises associated with her and her family.

The actor is married to Jackky Bhagnani, the son of veteran producer Vashu Bhagnani. Reports identifying the locations under search have therefore included premises connected with the Bhagnani family.

India Today reported that the searches began on September 28 and that no findings had been made public at the time of its report. The publication also noted that the precise nature of the alleged transactions and the amount involved had not been disclosed.

There has been no public finding in the sources reviewed establishing that Rakul Preet Singh herself committed a tax offence.

Vashu Bhagnani and Pooja Entertainment

Vashu Bhagnani is a veteran Hindi film producer and the founder associated with Pooja Entertainment.

His production credits include films such as Coolie No. 1, Hero No. 1, Biwi No. 1, Rehnaa Hai Terre Dil Mein and Bade Miyan Chote Miyan. Reports about the Income Tax searches have focused on financial transactions connected with film production and overseas dealings.

Hindustan Times reported that the Bhagnani family has produced more than 40 films and that officials were examining documents and financial records connected with the reported transactions.

Panorama Studios also under scrutiny

The searches also extend to locations associated with Panorama Studios, the production and distribution company led by Kumar Mangat Pathak and Abhishek Pathak.

Panorama Studios has been associated with films including the Drishyam franchise, Raid, Shaitaan and Khuda Haafiz. The company's latest major theatrical project, Drishyam: The Conclusion, is scheduled to arrive in cinemas on October 2, 2026.

The Economic Times reported that premises linked to Panorama Studios and Kumar Mangat Pathak were among those searched in connection with suspected irregularities involving foreign remittances.

Ali Abbas Zafar's office also reported in the search operation

Bollywood Hungama has additionally reported that a search operation was underway at filmmaker Ali Abbas Zafar's office.

This particular detail has not been independently confirmed by all of the other major reports reviewed for this article. It is therefore being presented as Bollywood Hungama's reported information, rather than as an independently established fact.

Ali Abbas Zafar has directed films including Gunday, Sultan, Tiger Zinda Hai, Bharat and Bade Miyan Chote Miyan, and has also worked as a producer.

No final findings have been announced

The most important development at present is that the investigation remains ongoing.

India Today reported that the Income Tax Department had not publicly detailed its findings or confirmed whether any tax violations had been established. Hindustan Times similarly reported that further details about the transactions were not available at the time of publication.

The Economic Times' September 29 update also described the operation as part of an ongoing probe into suspected irregularities involving foreign remittances and alleged tax evasion.

Therefore, claims that the searches have already established tax evasion, money laundering or concealed income would go beyond what has been publicly confirmed.

What happens next?

The Income Tax Department's examination is expected to focus on the financial records and transaction trails identified during the searches.

The department may examine whether overseas payments were properly documented, whether production and distribution expenses correspond with the reported transactions, and whether the relevant tax and regulatory requirements were followed.

Any conclusions will depend on the evidence gathered during the investigation. Until authorities officially disclose their findings, the allegations should remain described as suspected financial irregularities or alleged overseas fund transactions.

The Celebrity Hour Take

The significance of the development lies in the fact that the reported searches involve multiple individuals and production entities connected to Bollywood, rather than a single film personality.

At the same time, the story requires careful distinction between an Income Tax search and a confirmed tax offence. The searches indicate that the department is examining financial information; they do not, on their own, establish wrongdoing by the people or companies whose premises were searched.

For readers following the story, the key developments to watch are any official statement from the Income Tax Department, responses from the concerned individuals and companies, and whether investigators announce specific financial discrepancies or violations after examining the records.

For now, the central facts are the reported searches at 12 Mumbai locations and the ongoing examination of alleged overseas transactions connected with film-related activities.

Sources & Verification

This report was prepared using the supplied Bollywood Hungama report and cross-checked against The Economic Times, NDTV, India Today, Hindustan Times, Times of India and other current reports published around September 28-29, 2026. The core details of searches at 12 Mumbai locations and the investigation into suspected overseas financial transactions are reported consistently across multiple outlets. The Income Tax Department's final findings have not been publicly established in the sources reviewed.

The separate claim concerning Ali Abbas Zafar's office is retained with explicit attribution to Bollywood Hungama because it was not independently confirmed across the principal sources reviewed.

The article follows the supplied editorial requirements to distinguish confirmed developments, reported claims and unconfirmed allegations rather than presenting an ongoing investigation as a concluded finding.