Vashu Bhagnani hospitalised in London amid Income Tax searches at 12 locations linked to him, Rakul Preet Singh, and Panorama Studios: Report
Here's the latest update from the Bollywood world:
Vashu Bhagnani has as per reports been hospitalised in London days after Income Tax searches at 12 locations linked to him, Rakul Preet Singh and Panorama Studios.
Adding to this, When contacted by ANI, Bhagnani asked to be left “alone”. No further details about his health condition or the duration of his hospital stay are currently available.
Meanwhile, The development comes shortly after reports of Income Tax Department searches at multiple locations linked to Bhagnani, his daughter-in-law and star Rakul Preet Singh, and Panorama Studios.
Notably, The Income Tax Department as per reports carried out searches at 12 locations in Mumbai on September 28. The premises were linked to Vashu Bhagnani, Rakul Preet Singh and Kumar Mangat-led Panorama Studios.
As per the latest buzz, As per the latest buzz, the searches were part of an inquiry into suspected financial irregularities involving movie-related transactions. Investigators are as per reports examining allegations that funds may have been routed overseas under the guise of financing movie projects.
In further updates, Multiple teams were shared to be examining documents, financial records and details of alleged overseas transactions. However, the Income Tax Department has not publicly disclosed its findings or verified that any tax violation has been established.
On top of that, The searches also as per reports covered premises associated with Panorama Studios, which is led by producer Kumar Mangat Pathak. The nature and extent of the transactions under scrutiny have not been disclosed publicly.
Reports of the Income Tax searches emerged on September 28, with multiple publications reporting that the department was examining financial records connected to the movie industry.
Source: Bollywood Hungama