*1* nms.2437.09 kps IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION NOTICE OF MOTION NO.2437 OF 2009 IN SUIT NO.1672 OF 2009 Mohinder Kailey. ..Plaintiff -Versus- SAREGAMA (formerly known as HMV). ..Defendant .......... Rahul Karnik, for the Plaintiff. Ameya Gokhale i/b Khaitan & Company, for the Defendant. .......... CORAM : S.C.DHARMADHIKARI, J. DATE : 23rd November, 2010. P.C. 1 The Plaintiff has filed this suit on the basis that he is producer of films and particularly in Punjabi language. He has produced a film in Punjabi language and details of which are set out in the plaint. According to him, he had entered into an agreement under which he sold audio rights in respect of this film to the Defendant on the condition that the Defendant would pay royalty amount as stipulated in the agreement. There is default in payment of this royalty, therefore, the Plaintiff states that the Defendant does not have any right to act upon the agreement and exploit the musical and/or audio and other rights in respect of the said film. Apprehending that the Defendant is doing so, the Plaintiff submits that a restraint be placed on the act of the Defendant. 2 During the course of argument, my attention is invited to the notice addressed by the Plaintiff’s Advocate dated 25.07.2008 to the Defendant and in reply to which, the Defendant vide Exhibit-F to the *2* nms.2437.09 plaint, stated that they are ready and willing to pay the sum as and by way of royalty but the Plaintiff should obtain the requisite approval from the Reserve Bank of India. 3 After hearing the learned counsel for sometime, both agree that the Notice of Motion be disposed of in the following terms:- (i) Outstanding amount under the agreement for the period of 10 years from 01.04.2000 to 14.05.2009 as per the accounts maintained by the Defendants shall be deposited by the Defendants with interest @ 6% per annum within a period of eight weeks from today in this Court. (ii) On deposit of this amount in this Court, the Prothonotary & Senior Master of this Court to invest it in the Fixed Deposit in a nationalized bank initially for a period of 36 months and to abide by further orders of this Court. (iii) The Defendants shall maintain the account during the pendency of the suit and file a statement every six months i.e. twice a year. They shall do so from the date of institution of the suit till its pendency in this Court. In other words, the statements from the date of institution of the suit till this order shall be filed within three months from today and thereafter, the Defendants shall abide by the conditions to maintain the account and to file a statement every six months during the pendency of the suit. (iv) In default of deposit of amount along with interest as per clause (i), there will be an interim injunction in terms of prayer clause (b). (S.C. Dharmadhikari, J)