The Income Tax Department is conducting searches at 12 locations in Mumbai linked to Bollywood actor Rakul Preet Singh, her father-in-law and film producer Vashu Bhagnani, and Panorama Studios over suspected financial irregularities.
The searches, being carried out by multiple teams of the Mumbai Income Tax Department, are focused on financial records, documents and details of alleged overseas transactions, according to the information available.
Investigators suspect that funds may have been routed abroad under the guise of financing film projects. Officials are currently examining the financial trail and other records as part of the searches.
Searches focus on alleged financial irregularities
The Income Tax Department's action covers several locations associated with Rakul Preet Singh, Bhagnani and Panorama Studios. The investigation is examining suspected irregularities in the movement of funds and alleged transactions connected with film financing.
Officials are verifying documents and financial records and are also looking into the details of the alleged overseas transactions. The searches are ongoing, and further details are expected to emerge as the examination of the records progresses.
Panorama Studios International is a film production and distribution company associated with producer Kumar Mangat Pathak and his family, while Vashu Bhagnani is a prominent film producer.
Recent corporate disclosures show that Panorama Studios International has continued to enter agreements relating to film distribution, licensing and content rights in September 2026.
Rakul's family had faced drug probe earlier
The Income Tax searches come against the backdrop of a separate drugs case involving Rakul Preet Singh's brother, Aman Preet Singh, in Hyderabad.
In December 2025, Hyderabad Police launched a search for Aman after his name surfaced during an investigation into a narcotics network. The case followed an operation by the Elite Action Group for Drug Law Enforcement (EAGLE) Force and West Zone police on December 19, 2025.
During the operation, two businessmen were arrested for allegedly peddling drugs. Police seized 43 grams of cocaine and 11.5 grams of MDMA from them.
Police subsequently identified Aman as one of the alleged consumers linked to the two arrested men. According to police, he was suspected of having purchased drugs from the pair on five occasions. At that stage, officials said he had not been named as an accused and teams had been formed to trace him.
The latest developments in that case subsequently saw Aman named as an accused, according to later reports. A Telangana High Court petition seeking to quash the FIR was also reported in connection with the case.