The Income Tax Department reportedly carried out searches at the Mumbai offices of Prime Focus Ltd, the company headed by ‘Ramayana’ producer Namit Malhotra, on October 7. The development comes less than a month before the release of Nitesh Tiwari’s highly anticipated mythological epic and has brought renewed attention to the company’s financial dealings.According to CNBC-TV18, the searches are reportedly connected to foreign remittances. However, there has been no official disclosure yet about the specific transactions under scrutiny or the broader scope of the Income Tax Department’s action. The development also appeared to have an immediate impact on the company’s stock, with Prime Focus shares reportedly falling around eight per cent during morning trading on October 7.Prime Focus has a significant presence in the global entertainment industry, with its businesses spanning visual effects, animation, post-production and content creation. Its visual-effects company DNEG is playing a key role in ‘Ramayana’, one of the most ambitious Indian films currently in production.The Income Tax searches come days after a minor fire was reported near the sets of ‘Ramayana’ at Prime Focus Studios in Mumbai. The incident did not result in any injuries, and production resumed after the fire was brought under control.Meanwhile, anticipation around ‘Ramayana’ has continued to build ahead of its theatrical release. Ranbir Kapoor plays Lord Ram, with Sai Pallavi portraying Sita and Yash taking on the role of Ravan. Sunny Deol will be seen as Hanuman, while Ravie Dubey plays Lakshman. The ensemble cast also features Arun Govil as Dashrath, Lara Dutta as Kaikeyi and Rakul Preet Singh as Surpanakha.The two-part epic is being produced by Namit Malhotra’s Prime Focus Studios in association with DNEG and Yash’s Monster Mind Creations. DNEG’s involvement is particularly significant as the company is responsible for the film’s extensive visual effects, adding to the scale of the ambitious adaptation.‘Ramayana’ has also generated headlines over its reported production budget. The Indian Express reported that the film has been mounted on a reported Rs 4,000 crore budget. The project has further brought together renowned composers Hans Zimmer and AR Rahman for its music.The first part of ‘Ramayana’ is scheduled to release in theatres on November 5, 2026, coinciding with Diwali, while the second instalment is planned for Diwali 2027.