Income Tax department on Wednesday carried out searches at properties of actress Taapsee Pannu and filmmakers Anurag Kashyap and Vikas Bahl as per a Hindustan Times report. Anurag Kashyap and Taapsee Pannu are allegedly associated with Phantom films. Reports suggest that the raids are being conducted in a case of tax evasion by Taapsee, Anurag and Vikas. The searches are reportedly being conducted in Mumbai and various other locations.
Searches are also underway at properties of Shibhashish Sarkar (CEO Reliance Entertainment), Afsar Zaidi (CEO Exceed), Vijay Subramaniam (CEO Kwan). Exceed Entertainment and Kwan Entertainment are Mumbai's popular celebrity management agencies. Anurag Kashyap, Vikramaditya Motwane, producer Madhu Mantena, and Vikas Bahl came together to found film production company Phantom Films in Mumbai. In March 2015, Reliance Entertainment procured 50 per cent stake in the company.