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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> High Court of Bombay <br /><br /> Magnasound and Sony ordered to hand over music to liquidator<br /><br /> - (21 Oct 2015)<br /><br /> </td> </tr> <tr> <td align="left" valign="top">In the matter of M/s Magnasound India Ltd and Asha Bhosale</td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>The Bombay High Court ordered Magnasound, Sony Music and another to hand over Magnasound’s repository of music and other materials to its Official Liquidator. The Liquidator is expected to sell or license rights to the material, which also includes publicity material, to settle the debts of the company. Magnasound’s winding-up was initiated by Asha Bhosale for its failure to discharge its payment obligations.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : sony, asha bhosale, wind up, employees</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>