This song came to my mind like a bolt from the blue. It must have been at least 14-15 years since I last heard this song. It was never even featured in any film though it was included in the Dil Hai Ke Maanta Nahin album. A very romantic Ghazal with lovely Urdu(?) lyrics.
I'm surprised that after all these years, I somehow remembered every note of this song. Strange! (I wish I remembered my 9-times Table this well ;))
I am sure it happens even now, but in 90s there were often extra songs in a Movie Album. These songs were perhaps composed for the film but never got used. For some reason, I used to look forward to these extra songs. One such song was Dil Ka Aalam in the Aashiqui album. Many years later, this song somehow got made into a music video, perhaps for MTV.
The cassette companies would tout these extra songs as BONUS (think startbursts on the cassette covers).
Interestingly, two such songs, one in Tezaab and the other in Dil became so popular that they were added to the films after their release.
Amitabh ko bulaao to jaane - Tezaab - can't find the video but someone has posted the lyrics here! http://www.hindilyrics.net/lyrics/of-Tumko%20Ham%20Dilbar%20Kyun%20Maane.html
Aaj na Chodunga tujhe - Dil - https://www.youtube.com/watch?v=2NZ1eNGZSGY
Coming back to Aashiqui, I've always felt strange about the song Tu Meri Zindagi Hai in Aashiqui. This beautiful song probably couldn't find a place in the film, yet Mahesh Bhatt must have been so in love with this song that he put it anyway. That explains the silly and illogical picturisation of the song.
Closer home in the south, there was this song called Kinnerasani Vacchindhamma, which was originally part of the Saagara Sangamam album. It was just a few lines but a very catchy number. But it never got used in the film. However, a few year later, Vamsi, who was K Vishwanath's assistant used a full version of this song for another film of his, Sitara.
I understand that most film music composers have independent compositions in their kitty that they take out in case of emergencies. I would love to delve deeper into such trivia sometime. Any inputs on this topic are welcome.