Multiple teams from the Mumbai Income Tax Department are examining documents, financial records and transaction details as part of the ongoing operation.
Alleged overseas fund transfers under scanner
The searches are reportedly focused on allegations that funds linked to film projects may have been routed overseas under the guise of film financing, production expenses and other related transactions.
The exact nature and value of the transactions being investigated have not been disclosed.
The Income Tax Department has also not publicly announced any findings or confirmed that tax violations have been established.
The searches were continuing as officials examined records at multiple premises in Mumbai.
Rakul Preet, Vashu Bhagnani and Panorama Studios
Rakul Preet Singh is married to actor and producer Jackky Bhagnani, the son of Vashu Bhagnani. The Bhagnani family has been associated with Pooja Entertainment.
Panorama Studios, meanwhile, is associated with producer Kumar Mangat Pathak and has been involved in several major Hindi film projects.
Reports said the Income Tax action extends to premises connected with these film-industry figures and companies.
Aman Preet Singh drug case mentioned
The Income Tax searches come months after a separate drug investigation involving Rakul Preet Singh's brother Aman Preet Singh.
On December 19, 2025, Hyderabad's EAGLE Force and West Zone police arrested two businessmen in an alleged drug-peddling case and seized 43 grams of cocaine and 11.5 grams of MDMA.
During questioning, police said Aman Preet Singh's name emerged among people suspected of purchasing drugs from the alleged peddlers.
Police had said he was suspected of buying drugs from the two men on five occasions. At the time, officials described him as a suspected drug consumer; reports also noted that he had not initially been named as an accused in the case.
The drug investigation is a separate matter from the Income Tax Department's ongoing financial probe.