Income Tax Department has conducted searches at residences of actress Taapsee Pannu and director/producer Anurag Kashyap and Vikas Bahl. Residence of producer Madhu Mantena was also searched. The IT department is conducting searches on people related to Phantom Films over allegations of tax evasion.
As many as 22 locations are being raided by the IT-department, including Kwan talent management agency. Searches are also underway at properties of Shibhashish Sarkar (Reliance Entertainment CEO), Afsar Zaidi (Exceed CEO), Vijay Subramaniam (Kwan CEO).
Phantom Films that has been disbanded now, was a film production and distribution company started by Anurag Kashyap, director Vikramaditya Motwane, producer Madhu Mantena and Vikas Bahl. It was established in 2011 before getting dissolved in October 2018. Bahl was accused of sexual harassment, following which the production company dissolved. Three years later Madhu Mantena bought the stakes of Kashyap, Motwane and Bahl. It is known for popular classics like Lootera (2013), NH10 (2015), Masaan (2015), Udta Punjab (2016) and Raman Raghav 2.0 (2016).
Kwan is a talent management platform that manages leading celebrities, influencers, scriptwriters, sportspersons, directors, producers, composers, comedians, authors, digital stars across categories including cinema, OTT, television, music, sports, digital as well as regional categories. It was established in 2009 by Anirban Das Blah, along with his brother Indranil Das Blah, Madhu Mantena, Vijay Subramanium and Dhruv Chitgopekar. Hrithik Roshan, Ranbir Kapoor, Sonam Kapoor, Kriti Sanon and Deepika Padukone, Anurag Kashyap and Phantom Films are some of its clients.