The Enforcement Directorate (ED) on Tuesday said royalty to the tune of Rs2,500 crore is under scanner in a money laundering case registered against the Indian Performing Right Society (IPRS) and the Phonographic Performance Limited (PPL). The agency said the amount may be higher as they are yet to look into the records of three music companies. As per the amendment in the Copyright (Amendment) Act, 2012, 50% of the royalty collected by music companies must be given to lyricist and composers. “The lyricists and composers were at the mercy of the big music companies. The Mumbai zonal office will record statements of the heads of five music companies this week.

Source: Hindustan Times November 08, 2017 05:48 UTC