In a recent turn of events, the Indian Performing Rights Society (IPRS) has accused one of Bollywood’s biggest banners, Yash Raj Films, of collecting 100 crores from music royalties belonging to the IPRS.
IPRS is a body that comprises music producers, composers and lyricists. According to a report in the tabloid Mumbai Mirror, Yash Raj Films has unofficially collected the money without informing the IPRS. The body has filed an FIR which states the same.
Further, the FIR filed with the Mumbai police’s Economic Offence Wing states that YRF has prevented the body from collecting royalties from radio stations, music streaming platforms and telecom companies by pressurizing the artistes by making them sign an illegal agreement.
The body also alleged the banner that they are pocketing the money by making artistes sign unethical documents and taking away the money that actually belongs to composers, singers and lyricists.
The FIR claims that the banner has managed to get money from two TV broadcast platforms but could not get streaming platforms, radio stations and telecom companies to pay. According to a police officer, the FIR is registered under section 409 that talks about criminal breach of trust and 34 of common intention of IPC and other sections of Copyright Act.
In other news, Yash Raj Films is all set to celebrate its 50 years soon and the banner is planning to make the celebration a grand with many things included. It is speculated that the production house will announce films with the biggest stars like Salman Khan and Shah Rukh Khan.