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Home / News / Entertainment News / Income Tax raids at homes of Vikramaditya Motwane, Vijay Subramaniam
Entertainment

Income Tax raids at homes of Vikramaditya Motwane, Vijay Subramaniam

Income Tax raids at homes of Vikramaditya Motwane, Vijay Subramaniam
Written by Siddhant Pandey
Mar 04, 2021, 09:15 pm 2 min read
Income Tax raids at homes of Vikramaditya Motwane, Vijay Subramaniam

Income Tax officials on Thursday conducted searches at the residences of Vikramaditya Motwane and Vijay Subramaniam of the Kwan Talent Management Agency. The I-T Department had started raids at offices and residences of celebrities, including Taapsee Pannu and Anurag Kashyap, on Wednesday in connection with alleged tax evasion by the now-defunct production company Phantom Films. Here are more details.

Update
Officials continued grilling Pannu, Kashyap, others today

According to India Today, I-T officials raided the residence of Motwane, who was among the founding members of Phantom Films, and Subramaniam, the CEO of Kwan. Reportedly, the officials continued grilling Pannu, Kashyap, Madhu Mantena, and Vikas Bahl on Thursday after they were questioned for several hours on Wednesday. The raids are expected to continue for the next three days, the report stated.

Raid
I-T officials raided 22 sites yesterday

On Wednesday, I-T officials had conducted raids at 22 locations in Mumbai and Pune linked to Phantom Films and the Kwan Talent Management Agency. The I-T Department has found that profits made by these celebrities do not match their returns, sources told India Today. The individuals are being questioned on the basis of evidence already obtained by officials, the sources added.

Findings
Phantom Films is still operational: I-T sources

Reportedly, the I-T Department put seven lockers under restraining orders. I-T sources told India Today that Registrar of Companies (RoC) records obtained show that Phantom Films is still operational. Its four founding members, who are being raided, remain partners on paper, the sources said. Digital data obtained showed a huge amount of bungling in finances and massive tax evasion, the sources added.

Production company
What is Phantom Films?

Phantom Films was founded by Kashyap, Motwane, Mantena, and Bahl in 2011. It was associated with several critically-acclaimed films such as Lootera (2013), Ugly (2013), Queen (2014), NH10 (2015), Hunterrr (2015), Bombay Velvet (2015), and Masaan (2015). In March 2015, Reliance Entertainment had picked up a 50% stake in the company. It was dissolved in October 2018 after Bahl was accused of sexual harassment.

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Siddhant Pandey
Siddhant Pandey
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Siddhant Pandey covers national and health news at NewsBytes. He has over five years of experience working as a multimedia journalist covering hard news in New Delhi. He was previously employed with The Indian Express and News World India and has juggled roles as a correspondent, copy editor, and video producer. He holds a Bachelor’s degree in Biotechnology from the Jaypee Institute of Information Technology, Noida.
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