High Court of Bombay

In the matter of M/s Magnasound India Ltd and Asha Bhosale

21.10.2015

Company

Magnasound and Sony ordered to hand over music to liquidator

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.

Tags : sony asha bhosale wind up employees

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