Aditya Chopra summoned by Enforcement Directorate for alleged royalty scam
Aditya Chopra, Chairman of Yash Raj Films, has been summoned by the Enforcement Directorate in connection with the alleged multi-crore royalty-non payment scam, according to Asian Age.
Apart from Chopra, Shridhar Subramanium, vice-president of Sony Music India and Devraj Sanyal, MD-CEO of Universal Music have also been called to record their statements.
The developments come after Bhushan Kumar, managing director of T-Series, and Vikram Mehra of the Saregama music label, were both quizzed by the law enforcement department. The department is trying to determine the pending amounts that these companies have to pay, according to the same report.
As per law, lyricists and composers are entitled to 50 per cent of the royalties garnered by the companies. However, according to the ED, these dues are pending since June 2012. The Asian Age report states that a probe revealed that T-Series collected royalties worth Rs 2,000 crore in the last six years of which 50 per cent belong to lyricists and composers but not a penny was paid.
Therefore, following the discoveries, the aforementioned people have been named in money laundering cases and the probe is on.
Currently, Chopra is gearing up for the release of his major production, Ali Abbas Zafar's spy thriller Tiger Zinda Hai, this Christmas on 22 December.
Published Date: Nov 07, 2017 11:10 AM | Updated Date: Nov 07, 2017 11:10 AM