Reading: Yash Raj Films receives closure on the case of misappropriation of royalties worth Rs. 100 crores : Bollywood News

Yash Raj Films receives closure on the case of misappropriation of royalties worth Rs. 100 crores : Bollywood News

Last updated: May 26, 2024 10:55 am

Atulya Shivam Pandey

3 Min Read

[ad_1]

The 2019 case where the Indian Performing Rights Society (IPRS) lodged a complaint against Yash Raj Films alleging the misappropriation of Rs. 100 crore in royalties meant for lyricists, singers, music directors, and producers has finally come to a conclusion. Following nearly five years of investigation, the Economic Offences Wing (EOW) of the Mumbai Police has closed the case after categorizing the case as ‘C’ summary, which indicates neither confirmation nor dismissal of the accusations.

Yash Raj Films receives closure on the case of misappropriation of royalties worth Rs. 100 crores

In their closure report submitted to the court, the EOW’s general cheating cell reportedly did not find any evidence of financial misconduct by Yash Raj Films. The report attributed the issue to ambiguity in copyright agreements regarding royalty calculations, rather than deliberate embezzlement. It concluded that the contractual terms fell within the realm of civil disputes, thus recommending the court’s approval of the ‘C’ summary report. This kind of report is reportedly quite common and typically arises from factual errors or when the alleged offense pertains to civil matters rather than criminal.

In an official statement released on the issue, it elaborated further on the decision which was arrived after much consideration and it read, “The complainant had alleged that YRF had taken the licence fees from the user companies or exploiter companies for songs in the agreement letter or received royalty in another way and they have used it for personal use, which is not true. Also, during the course of investigation, it is seen that the amount of royalties paid by the accused company from time to time to song writers and musicians who are members of the plaintiff have been received/accepted by the plaintiff company.”

In the complaint, which was filed earlier by IPRS, it was being said that Yash Raj Films created hinderances in the royalty collection from various platforms by coercing artists into signing unlawful agreements. However, having found no evidence to support these accusations, the court has finally settled the matter with this summary report.

Also Read: Alia Bhatt – Sharvari Wagh untitled YRF Spy Universe project gets several action directors to create seven fight sequences: Report