Veteran film producer has reportedly been hospitalised in London amid an ongoing Income Tax Department probe into alleged irregularities linked to overseas film funds. The development comes days after tax officials conducted searches at 12 locations in Mumbai reportedly connected to Bhagnani, his daughter-in-law and actress Rakul Preet Singh and Panorama Studios.
The exact reason for Bhagnani’s hospitalisation has not been disclosed. According to ANI, when contacted about his health, the producer requested privacy and said he wanted to be left “alone”. Further details about his health condition are awaited.
The Income Tax Department’s search operations reportedly relate to alleged financial discrepancies involving money that was purportedly routed overseas for film production ventures. However, authorities have not publicly disclosed details of the transactions under scrutiny or the amount of money involved.
Sources cited in reports said that multiple premises associated with the concerned film personalities and production banners were searched as part of the investigation. The Income Tax Department has not yet officially shared details of the findings or confirmed whether any tax violations have been established.
Who Is Vashu Bhagnani?
Bhagnani is a veteran producer and the founder of Pooja Entertainment, which he established in 1995. He made his debut as a producer with Coolie No. 1, starring Govinda, which went on to become a successful comedy.
Over the years, he backed films including Hero No. 1, Biwi No. 1, Pyaar Kiya To Darna Kya and Rehnaa Hai Terre Dil Mein. In more recent years, Pooja Entertainment, which has been managed by Bhagnani along with his son Jackky Bhagnani, produced films such as Sarbjit, Bell Bottom and Bade Miyan Chote Miyan, starring Akshay Kumar and Tiger Shroff.
Rakul Preet Singh is married to Jackky Bhagnani, Vashu Bhagnani’s son. The actor has therefore been associated with the Bhagnani family, which runs Pooja Entertainment.
Panorama Studios, which was also reportedly among the entities linked to the searches, is owned by producer Kumar Mangat. The company has backed and distributed several Hindi films. Its upcoming release Drishyam: The Conclusion is scheduled to hit cinemas on October 2.
The Income Tax Department’s probe is currently underway, and further details are expected as the investigation progresses.
