According to the latest reports, a new audit has allegedly found that pirated versions of Salman Khan`s film Sikandar were being circulated soon after its release in March. The pirated versions were reportedly being circulated on encrypted messaging platforms and unauthorised streaming sites. As a result of the leaks, the production house has faced massive losses, mounting up to a little less than Rs 100 crore. Sources claim, “This wasn’t a minor leak. The scale of circulation was unprecedented, and it had a measurable impact on the box office,” the source added.
Sikandar faced Rs 91 crore loss
As per reliable sources who spoke to Bollywood Hungama, the production house, Nadiadwala Grandson Entertainment Pvt. Ltd. (NGEPL), headed by Sajid Nadiadwala, has initiated internal discussions about claiming its digital piracy insurance cover after a shocking figure of loss was brought to light in the audit. The source said, “An audit was commissioned to assess the extent of the leak and the resulting impact on revenue. Ernst & Young (EnY) submitted a comprehensive report that pegged the loss at approximately Rs. 91 crore.”
Industry insiders say that the Rs. 91 crore figure was found using a combination of comparative modelling and market benchmarking. The audit seemingly analysed pre-release box office projections, theatre-wise occupancy trends, as well as region-wise earnings dips following the leak. They also used digital footprint tracing tools to track the volume of illegal downloads and streams across platforms. These figures, when converted into estimated box office revenue loss with the help of established conversion ratios led to the team finalising the figure.
The source further shared, “Such audits often include a blend of data from ticketing platforms, distributor reports, and forensic tracing of piracy dissemination. The Rs. 91 crore figure wasn’t arbitrary – it is rooted in a loss of potential theatrical and digital revenue.”
Notably, the pirated versions are believed to have been leaked post-censorship, since they included deleted and raw scenes, which not present in the final theatrical cut. A source revealed, “The background score in many places was raw. There were several scenes that did not exist in the theatrical version – like one where medical students meet Sikandar in Dharavi, a longer flashback of Kamaruddin collapsing due to lung disease, and a sequence involving Sikandar learning about Rashmika’s character’s aspirations to become a lawyer.”
“There was also a pre-interval scene where Sikandar’s team informs him about multiple issues – Kamaruddin’s deteriorating health, Vaidehi (Kajal Aggarwal) leaving her home, and Nisha (Anjini Dhawan) being unwell – giving him stronger reason to stay in Mumbai. There’s even a deleted suicide attempt by Vaidehi and a cab sequence involving vadams that was omitted from the final cut,” they added.
The source also noted, “It’s not Iulia Vantur singing Lag Ja Gale – the original 1964 version is used. Also, the pirated version did not include Salman Khan singing Ajeeb Dastaan, which was later added to the final cut. These variations suggest that the leak likely happened post-CBFC clearance, indicating an insider job.”
Sikandar enjoyed an impressive opening weekend, followed by a sharp decline in its weekday collections. It ultimately ended its theatrical run at Rs. 103.45 crores.
Nadiadwala Grandsons to file Bollywood`s biggest piracy insurance claim?
On the other hand, another source close to the production house claimed, “No formal claim has been filed yet. The discussions are ongoing, but it`s premature to say that NGEPL has officially moved to claim Rs. 91 crores. At this stage, these are internal assessments, not legal filings.”
Interestingly, if NGEPL decides to proceed with the claim, this could turn put to be one of the biggest piracy-related insurance claims in Indian film history. The incident also highlights the increasing role of risk management tools such as cyber insurance in the business of moviemaking. A digital distribution expert noted, “Studios are finally treating piracy as a financial risk, not just a legal or ethical concern.” Sajid Nadiadwala and NGEPL are yet to issue an official statement regarding the insurance claim or the piracy audit.