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| Exchange Received Time 06/11/2017 08:41:09 Exchange Disseminated Time 06/11/2017 08:41:16 Time Taken 00:00:07 | "There are press reports of officers from Enforcement Directorate (ED) raiding premises of certain music companies including Saregama India for alleged non-payment of royalties and other alleged offenses in relation to the same. The company has fully cooperated with the authorities in this probe.
On 3rd Nov 2017, officers from ED visited Saregama's Mumbai and Kolkata offices and collected copies of certain documents in relation to the royalty payments.
At this stage, we do not envisage any material financial liability on account of the ED's probe and will keep the stock exchanges updated of any change in status or subsequent developments."
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