Mumbai: In a major development shaking the entertainment industry, Income Tax department has reportedly conducted searches at the Mumbai offices of 'Prime Focus Limited', owned by producer Namit Malhotra, who is backing the monumental cinematic project 'Ramayana'. As per 'The FreeLance' findings, the crackdown is related to alleged financial irregularities and foreign remittance discrepancies, coming just weeks ahead of the film's theatrical rollout.
As the news of the IT raids broke on the morning of October 7, Prime Focus shares witnessed an immediate 8 percent slump in the stock market. While official details regarding the exact scope and nature of the foreign transaction probe are still awaited, the financial scrutiny has caught the industry by surprise.
Foreign Remittance Probe and Recent Set Mishaps
According to sources, the tax authorities are closely scrutinizing cross-border financial transactions and fund transfers linked to the entity. Interestingly, this action follows a minor fire breakout near the 'Ramayana' set at the Prime Focus Studios in Mumbai. Although no casualties were reported and shooting resumed promptly, the series of events has drawn intense media spotlight.
A 4000-Crore Epic and Stellar Cast
Namit Malhotra’s Prime Focus and its globally acclaimed VFX arm DNEG are handling the cutting-edge visual effects for the epic, being made on a massive budget of roughly Rs 4,000 crore. Co-produced alongside actor Yash's 'Monster Mind Creations', the film boasts music by Hans Zimmer and A.R. Rahman.
- Release Timeline: Part one is slated for a Diwali release on November 5, 2026, followed by Part two on Diwali 2027.
- Star Ensemble: Ranbir Kapoor stars as Lord Ram, Sai Pallavi as Sita, and Yash as Ravana. The cast also features Sunny Deol (Hanuman), Arun Govil (King Dashrath), Lara Dutta (Kaikeyi), and Rakul Preet Singh (Shurpanakha).
'The FreeLance' will continue to track further developments and regulatory disclosures surrounding this high-stakes financial investigation.
