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Parekh, 79, will be presented with the award during the 68th National Film Awards ceremony, to be held on Friday.
It has been a surprise to many as to why this exceptionally talented and renowned music composer in Bollywood never associated with Lata.
Bhonsle, who was attending the ceremony here on Thursday, tweeted a photograph of herself with Irani.
Veteran singer Usha Uthup says she was supposed to sing the hit 'Dum maro dum' song along with Asha Bhosle in 1971.
'It's a positive step and women should express their issues and should fight for their justice,' Asha Bhosle said.