Filmmaker Under Scanner: I-T Conducts Searches; Vashu Bhagnani, Panorama Studios Under Lens Over Film Funds

Mumbai, September 28, 2026: Bollywood filmmakers Vashu Bhagnani and Kumar Mangat Pathak have come under the Income Tax Department’s scanner over suspected irregularities in film-related funds, including alleged overseas remittances made in the name of film production, shooting expenses and international distribution, sources said. The department on Monday conducted searches at 12 premises in Mumbai linked to the filmmakers as part of the investigation.

The searches covered premises linked to Bhagnani, who heads Pooja Entertainment, and Pathak’s Panorama Studios. Multiple teams of the Mumbai I-T Department conducted simultaneous searches at offices and other locations connected to the filmmakers, examining financial records and transactions, sources said.

According to sources, the department had received inputs suggesting that substantial sums of money were allegedly being remitted overseas in the name of film production, shooting expenses and overseas distribution. The department suspects large-scale tax evasion and financial irregularities in the process.

Financial Records Under Scrutiny

During the searches, officials are examining physical account books, international wire-transfer records and digital transaction logs to trace the movement of funds and ascertain whether cross-border remittances complied with domestic tax and foreign-exchange regulations.

Investigators are also cross-verifying tax filings against production cost inflation claims, overseas studio payouts and co-production financial structures. The exercise is aimed at identifying possible discrepancies between declared income, reported production costs and the actual flow of funds.

Officials stated that the searches are part of an ongoing preliminary enforcement and compliance audit. At this stage, the actions represent a formal investigation into flagged financial trails. Any formal tax demands, prosecution or subsequent legal actions will depend entirely on the final evidentiary findings compiled upon the conclusion of the searches.

Panorama Studios Under Lens

In the case of Panorama Studios, headed by Pathak, investigators are examining the production house’s financial transactions and expenditure related to overseas projects, sources said. The studio is associated with the Drishyam franchise, with its upcoming film, Drishyam: The Conclusion, scheduled to hit cinemas on October 2.

Panorama Studios has also backed Raid and Raid 2, films whose storylines revolve around I-T searches. In an unusual coincidence, the same department whose raids formed the backdrop for films backed by Pathak’s production house has now searched premises linked to the filmmaker and Panorama Studios. The current searches, however, are part of an ongoing tax inquiry.

Pooja Entertainment Financials Examined

The operation is also focused on the financial architecture of Pooja Entertainment, led by the Bhagnani family and associated with the production of more than 40 films.

Sources said the department’s scrutiny extends to the production banner’s wider financial and business ecosystem, including associated family premises and locations linked to actress Rakul Preet Singh. Investigators are examining the production house’s financial transactions, production expenditure and overseas dealings as part of the inquiry.

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Responses Awaited

Repeated attempts were made to contact Bhagnani, Pathak and representatives of their respective production houses for their response to the searches and the allegations under examination. They had not responded or issued any official statement till the time of going to press.

The Income Tax Department has not revealed the findings of the searches or confirmed whether any tax violations have been established. The searches were continuing and further details were awaited.

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