The Income Tax Department raided the Mumbai branch of Namit Malhotra’s Prime Focus Ltd on Wednesday, October 7. Officials said the searches relate to foreign remittances. The company, which is producing the upcoming film Ramayana: Rise Of A Legend, saw its shares fall sharply after the news of the raid emerged.

The Income Tax Department reportedly raided the Mumbai branch of Ramayana producer Namit Malhotra's Prime Focus Ltd on Wednesday, October 7. The Income Tax searches are said to be in connection with foreign remittances. The development comes amid the ongoing promotion campaign for Namit's ambitious project Ramayana: Rise Of A Legend, the first instalment in the two-part film series. The highly anticipated mythological epic features Ranbir Kapoor as Lord Ram.

All About Income Tax Raid At Prime Focus Ltd

The Income Tax Department conducted searches at the Mumbai offices of Prime Focus Ltd on Wednesday morning. According to CNBC-TV18, the tax authorities are also searching the premises of certain individuals associated with the company. Further details about the transactions under scrutiny are awaited.

The development had an immediate impact on Prime Focus' stock. Shares of the company fell sharply after news of the Income Tax searches emerged. Prime Focus is a media and entertainment services company with businesses across visual effects, animation, post-production, and content production, along with a significant international presence.

Prime Focus is headed by Namit Malhotra and is closely associated with the much-awaited Ramayana. The company is behind Prime Focus Studios, which is producing the ambitious two-part adaptation along with DNEG and Monster Mind Creations.

Ramayana: Rise Of A Legend To Arrive On Diwali

Namit Malhotra's Ramayana has now officially been titled Ramayana: Rise Of A Legend. The first instalment of the two-part epic will release worldwide in November, with the makers confirming November 6 as the global theatrical release date. The makers are planning a major global rollout for the film, which is expected to be one of the biggest Indian theatrical releases of 2026.

For Indian audiences, the film is scheduled to arrive on Diwali, November 8. The release strategy will see the international market get the film two days before its India release. The film will be released in Hindi, Tamil, Telugu, Kannada, and Malayalam across the country.

Directed by Nitesh Tiwari, Ramayana stars Ranbir Kapoor as Lord Rama, Sai Pallavi as Sita and Yash as Ravana. Sunny Deol plays Lord Hanuman, while Ravie Dubey portrays Lakshmana. Arun Govil, who famously played Lord Ram in the iconic television series Ramayan, will be seen as King Dashrath in the new film.

The film also features Rakul Preet Singh, Lara Dutta, Vivek Oberoi and Kunal Kapoor in important roles. Music for the ambitious project has been composed by Hans Zimmer and AR Rahman.