India, Oct. 8 -- Filmmaker Namit Malhotra is gearing up for the release of his upcoming film, Ramayana. However, according to a report by CNBC-TV18, just a few weeks before its release, the Income Tax Department reportedly launched searches at the Mumbai offices of the filmmaker's company, Prime Focus Ltd.

The Income Tax Department's action reportedly began on October 7 and continued into Wednesday morning, with searches also being carried out at the premises of individuals associated with Prime Focus. The searches are said to be linked to certain foreign remittance transactions, although details about the specific transactions being examined have not been disclosed. The development also weighed on Prime Focus' stock, which reportedly dr...