What is Compulsory Licensing under Copyright Law in India?

Compulsory Licensing under Copyright Law in India is a form of licensing which gives an exclusive right to do an act, with respect to the work of a copyright holder, without his/her prior and express consent. It is a term often used interchangeably with statutory licensing, but under the Copyright Act, there exists a distinction between the two, i.e.  under compulsory licensing the rate of royalty can be negotiated by the owner through Appellate Board but under statutory licensing such rate is pre-defined by the Appellate Board.