The Enforcement Directorate (ED) conducted raids at eight locations across Mumbai, Delhi and Kolkata in relation to a money laundering case against music companies.
Companies included in the raids were Universal, T-series, Saregama and YRF Music.
The searches were conducted in relation to a case lodged against the Indian Performing Right Society (IPRS) and the Phonographic Performance Limited (PPL) in 2015.
ED registered a case against entities under Prevention of Money Laundering Act (PMLA) on the basis of complaints from lyricist Javed Akhtar along with other artists alleging non-payment of royalties and gross irregularities at the IPRS and PPL.