Veteran Bollywood producer Vashu Bhagnani has reportedly been hospitalised in London amid an ongoing Income Tax Department investigation into suspected irregularities involving film-related funds and overseas transactions.
Bhagnani's hospitalisation comes days after the Income Tax Department conducted searches at 12 locations in Mumbai linked to the producer, his daughter-in-law and actor Rakul Preet Singh, and Panorama Studios. The searches reportedly focused on financial records and transactions involving funds allegedly routed overseas in connection with film projects.
The exact reason for Bhagnani's hospitalisation has not been disclosed. According to reports citing ANI, when contacted about his health, the producer asked to be left "alone" and requested privacy. Further details about his condition are awaited.
Income Tax probe into alleged overseas transactions
The Income Tax Department's searches reportedly relate to suspected financial discrepancies involving film production, shooting expenses and overseas distribution. Officials have been examining financial documents, tax records and details of international transactions as part of the ongoing inquiry.
The department has not publicly disclosed the findings of the searches or confirmed whether any tax violation has been established. The investigation remains ongoing.
Vashu Bhagnani's film career
Bhagnani founded Pooja Entertainment in 1995 and has produced several popular Hindi films over the years. His production credits include Coolie No. 1, Hero No. 1, Biwi No. 1, Rehnaa Hai Terre Dil Mein, Bell Bottom and Bade Miyan Chote Miyan.
His son Jackky Bhagnani is also a film producer, while Rakul Preet Singh is married to Jackky. The Bhagnani family has been associated with Pooja Entertainment for several years.
Meanwhile, the Income Tax Department's inquiry into the alleged financial irregularities is continuing, with further details expected as officials examine the records gathered during the searches.
