The Income Tax Department reportedly conducted searches at the Prime Focus Ltd Mumbai offices of Ramayana producer Namit Malhotra on October 7, putting the spotlight on the company just weeks before the release of Nitesh Tiwari’s much-awaited film. The action comes at a significant time for Prime Focus, which is headed by Namit Malhotra and is closely involved with the ambitious two-part epic.

Income Tax raid at Ramayana producer's office

According to CNBC-TV18, the searches are linked to foreign remittances, although details about the transactions being examined or the wider scope of the inquiry have not been disclosed. The development also reportedly affected Prime Focus’ stock performance, with its shares falling around eight per cent during October 7 morning trading.