1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMPANY PETITION NO.719 OF 2002 Ms.Asha Bhosle ....Petitioner V/s. Magnasound (India) Ltd. ....Respondent Mr.Durgesh Khanapurkar i/b M.K. Ambalal & Co. for the Petitioner. Ms.Shweta Sharma i/b Ms.Nita Madhwani for the Respondent. CORAM : S.J. VAZIFDAR, J. DATE : 9TH JULY, 2010. P.C. :- 1. This is a petition for winding up the Respondent Company inter-alia on the ground that it is unable to pay its debts. 2. The claim is for royalty amounts due to the Petitioner from the Respondent inter-alia in respect of the Petitioner’s recorded performance of her recording and use of her photographs for the promotion of recordings. It is not necessary to set out the facts in detail. Suffice it to state that the Respondent had not only not denied its liability but has acknowledged the same same in the course of the correspondence. On 1.3.2001, a sum of Rs.66,74,780/- was due and payable in respect of the domestic sales. 3. The consent terms were arrived at between the parties on 1.10.2002. There was a default under the consent terms. A Provisional Liquidator was appointed by an order dated 30.4.2003. The Respondent’s 2 advocate states that there are no instructions in the matter. 4. In the circumstances, it is clear that the company is unable to pay its debts. 5. In the circumstances, the petition is made absolute in terms of prayers (a) and (b). The Respondent company shall also pay the costs of this petition fixed at Rs.10,000/-, which the Petitioner shall be entitled to recover in the winding up proceedings. The Provisional Liquidator shall continue as the Official Liquidator.