Ranbir Kapoor and Sai Pallavi-starrer Ramayana is merely a month away from its release, and the makers are leaving no stone unturned to promote their upcoming film. Amid the ongoing promotions, the film has been touted as one of the biggest-budgeted Indian films, reportedly being made at a cost of over Rs 400 crore. However, the film's massive budget, extravagant larger-than-life sets and VFX work have now come under scrutiny.
On Wednesday, the Income Tax Department reportedly raided the Mumbai offices of Prime Focus Ltd.
The development comes at a crucial time for Prime Focus, which is headed by Namit Malhotra and is closely associated with the ambitious two-part mythological epic Ramayana.
According to CNBC-TV18, the Income Tax searches at Prime Focus' offices are linked to foreign remittances, referring to the transfer of money from India to another country. However, details about the specific transactions being examined and the exact nature of the inquiry have not been disclosed yet.
The reported searches also affected Prime Focus' performance in the stock market, with the company's shares reportedly falling by around 8 per cent.
The production company behind Ramayana, Prime Focus Studios, saw its shares tank by 8 per cent following the Income Tax raid at its Mumbai office. The company has significant overseas operations, with 92 per cent of its revenue coming from markets outside India, according to information available on its investor centre.
Prime Focus and its work on Ramayana
Prime Focus, led by Namit Malhotra, is a major media and entertainment services company with operations across visual effects, animation, post-production and content production. The company also has a significant international presence.
The company has also faced regulatory scrutiny this year. In June, the Securities and Exchange Board of India (SEBI) closed adjudication proceedings against Prime Focus concerning accounting treatment and financial disclosures after finding no irregularities.
The latest Income Tax searches come as Prime Focus Studios continues its work on Ramayana, one of the year's most anticipated Indian films.
About Ramayana
Directed by Nitesh Tiwari, the two-part epic stars Ranbir Kapoor as Lord Ram, Sai Pallavi as Sita and Yash as Ravan, alongside Sunny Deol, Rakul Preet Singh, Arun Govil and Ravi Dubey in key roles.
According to a report in Pinkvilla, the first part of the film is expected to release in India on November 5, 2026, around Diwali, while the second instalment is expected to arrive in 2027.
Arun Govil, who is best known for playing Lord Rama in the iconic television series Ramayan, will portray King Dashrath, Rama's father, in Nitesh Tiwari's upcoming film. His first look from the film shows him in a royal avatar, offering a nostalgic yet fresh twist for fans.
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