Income Tax Department Conducts Searches at Prime Focus Offices Over Reported Foreign Remittances Ahead of Much-Awaited Ramayana Release:

The Income Tax Department reportedly conducted searches at the Mumbai offices of Prime Focus Ltd on October 7. The company is headed by Namit Malhotra, the producer of the upcoming film Ramayana. The searches have taken place less than a month before the release of the much-awaited mythological epic.

The searches are reportedly linked to foreign remittances. However, there has been no official statement from the Income Tax Department about the transactions being investigated or the exact reason for the action.

The development also affected Prime Focus' shares. The company's stock reportedly fell by around eight per cent during morning trading on October 7.

Prime Focus is a major global entertainment company involved in visual effects, animation, post-production and content creation. Its visual-effects company DNEG is working on Ramayana and is responsible for the film's large-scale visual effects.

The searches come days after a minor fire was reported near the sets of Ramayana at Prime Focus Studios in Mumbai. No one was injured in the incident, and production resumed after the fire was brought under control.

Meanwhile, interest in Ramayana continues to grow ahead of its theatrical release. Ranbir Kapoor will play Lord Ram, while Sai Pallavi will portray Sita and Yash will play Ravan. Sunny Deol will be seen as Hanuman and Ravi Dubey as Lakshman. The film also stars Arun Govil as Dashrath, Lara Dutta as Kaikeyi and Rakul Preet Singh as Surpanakha.

The two-part film is being produced by Namit Malhotra's Prime Focus Studios in association with DNEG and Yash's Monster Mind Creations. DNEG's involvement is important to the project as the company is handling the film's extensive visual effects.