The Income Tax Department conducted searches at several locations linked to Bollywood actor and filmmakers in Mumbai on Monday.
Places related to actor Rakul Preet Singh, her father-in-law and film producer Vashu Bhagnani, and Kumar Mangat-led Panorama Studios are reportedly being searched.
According to TV9, the IT Department had launched searches at 12 locations over suspected fund irregularities. They are believed to be investigating funds that are allegedly being routed abroad under the guise of financing film projects.
Multiple teams have been pressed into action, and they are said to be investigating the documents, financial records and the alleged overseas transactions.
Rakul’s husband Jackky Bhagnani and father-in-law Vashu Bhagnani run Pooja Entertainment and have produced over 40 films including blockbuster films like Coolie No. 1 (1995), Hero No. 1 (1997), and Biwi No.1 (1999). Mangat helms Panorama Studio which is known for films like Raid and the Drishyam franchise.
We tried contacting Rakul’s team and the Bhagnanis and Mangat independently but did not get a response till the time of going to press. It was reported that teams were investigating till the time of filing of this report. Further details about the transactions have not been revealed yet