Country’s leading film production house, Yash Raj Films (YRF) had made it clear that it is not shutting down its music label and overseas distribution network.

Speaking on this, Rafiq Gangjee, Vice President, Marketing and Communications, YRF, said, "It is unfortunate that there are unfounded rumours going around for sometime that the Yash Raj Films’ music division and our international operations are shutting down. There is absolutely no truth in either of these."

Gangjee further said, “Our current slate of films for the year will be handled by all our existing touch points including YRF Music and our YRF International operations. Neither of these divisions is being closed and they continue to function as usual.”

However, due to the ongoing global economic crises, the company, last week, had shut down their overseas distribution arm. Moreover, most of the films being released these days are not doing well at the box-office.

It can be recalled that YRF was set up by well-known Indian film producer and director Yash Chopra. In the beginning, Chopra worked for his brother's production company (B.R. Films) and set up his own company in the year 1970. The company launched its own music label called Yash Raj Music and produces DVDs, videos and VCDs under the Yash Raj Films Home Entertainment label.