Indian music industry comes under the scanner
- IndiaGlitz, [Saturday,November 04 2017]
In a sudden move yesterday, sleuths of the Enforcement Directorate have started a pan Indian inspection on music labels and companies.
Music companies across the country have come under the scanner after Padma Bhushan awardee Shubha Mudgal's complaint that artists are not being given their due royalties properly as stated by the Copyright act. The complaint was filed under the Prevention of Money Laundering Act.
Music giants like YRF Music, Saregama, T-Series, Sony and even Universal Music are under the ED's scrutiny. Music industry bodies namely IPRS and PPL are also not exception to this.
ED officials will collect information pertaining to financial transactions of the companies to assess if the due royalties have been embezzled to elsewhere.