Archive · 7 Oct 2026
Tax Department Searches Prime Focus Over Suspected Remittance Irregularities
Tax officials searched offices belonging to Prime Focus and its auditor.
They are looking into overseas money transfers as part of an ongoing investigation.
Some premises connected to people linked to Prime Focus were also searched.
The company says it is giving officials the information they requested.
It also says it has not been told that officials have found wrongdoing.
Prime Focus says its business is continuing as usual.
Its shares fell on the day of the searches.
More details about the transactions being examined have not yet been announced.
The Income Tax Department searched Prime Focus offices in Mumbai and the offices of statutory auditor MSKA & Associates LLP.
The searches began early Wednesday, October 7, 2026, and also covered premises of people linked to Prime Focus.
The investigation concerns suspected irregularities in foreign remittance transactions and is part of an ongoing tax probe.
Prime Focus said it is cooperating, has not been told of any findings or alleged violations, and continues normal business operations.
The company’s shares closed down 2.78% at Rs 285.05; the article says shareholders recently approved a Rs 3,000 crore fundraising plan.
- Who
- The Income Tax Department searched Prime Focus, its statutory auditor MSKA & Associates LLP, and premises of certain people linked to the company.
- What
- Searches were conducted as part of a probe into suspected foreign remittance irregularities and other alleged financial irregularities.
- When
- The searches began early Wednesday, October 7, 2026.
- Where
- At certain Prime Focus offices, including its Mumbai headquarters, and at MSKA & Associates LLP offices; other linked premises were also searched.
- Why
- Officials are examining suspected irregularities in foreign remittance transactions and an audit trail connected to an ongoing tax probe.
Tax authorities’ investigation
Prime Focus’ response
Purpose and status of searches
Tax authorities’ investigation
The searches are part of an ongoing probe examining suspected overseas fund transfers and alleged tax or financial irregularities.
Prime Focus’ response
Prime Focus said it could not comment on the subject of the search because no findings or alleged violations had been communicated to it.
Company operations
Tax authorities’ investigation
The searches were underway and officials were examining financial records and transactions.
Prime Focus’ response
The company said it was cooperating with requests for information and that its business operations were continuing as usual.
- Company
- Prime Focus
- Auditor searched
- MSKA & Associates LLP
- Search date
- October 7, 2026
- Investigation focus
- Suspected foreign remittance transactions and alleged financial irregularities
- Share closing price
- Rs 285.05, down 2.78% from the previous close of Rs 293.20
- Fundraising plan
- Shareholders approved enabling resolutions for a Rs 3,000 crore capital-raising plan at the September 30 annual general meeting
- Company response
- Prime Focus said it is cooperating, operations continue as usual, and it has not been informed of findings or alleged violations