Rakul Preet Singh, Drishyam 3 producer face I-T searches over overseas film funds, tax claims

The Income Tax Department has launched search operations at 12 locations in Mumbai linked to actor Rakul Preet Singh, producer Vashu Bhagnani and Panorama Studios over suspected financial irregularities tied to film financing. Multiple IT teams are examining documents and transaction records as part of an ongoing probe, with no formal findings made public so far, India Today reported.

The searches are connected to allegations that funds may have been routed overseas under the guise of financing film projects. Officials are scrutinising financial records, transaction details and related documents to verify whether any irregularities occurred in connection with film production and related business activities.

At this stage, there is no publicly disclosed finding establishing that the individuals or companies searched have committed tax violations. The investigation is ongoing, and authorities have not released specific details about the payments or alleged irregularities.

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The premises under search include locations associated with actor Rakul Preet Singh, her father-in-law and filmmaker-producer Vashu Bhagnani, and Panorama Studios, the production house behind projects such as Drishyam 3. Separate teams are carrying out simultaneous searches at multiple offices and premises linked to the producer and the studio, as per an India Today report.

Bollywood has periodically come under the tax department’s lens in recent years over questions of funding, foreign remittances and financial disclosures in film production. Separately, Vashu Bhagnani has also been involved in a high-value legal dispute this year.

In May 2026, Puja Entertainment (India) Ltd, associated with Bhagnani, filed a ₹400 crore lawsuit in the Bombay High Court against Tips Industries, Ramesh and Kumar S Taurani, and filmmaker David Dhawan over the alleged unauthorised use of songs from the 1999 film Biwi No. 1 in the Varun Dhawan-starrer Hai Jawani Toh Ishq Hona Hai.

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The production house sought restrictions on the film’s release, distribution, streaming and promotional use of the songs Chunnari Chunnari and Ishq Sona Hai, along with their removal and a change to the film’s title, as reported on May 29, 2026.