Salman Khan Settles Multi-Crore Dispute: Withdraws Insolvency Appeal Against Jerai Fitness
Bollywood actor Salman Khan withdraws his insolvency appeal against Jerai Fitness at NCLAT after settling a Rs 7.24 crore dispute. This comes following a rejected insolvency plea earlier this year at NCLT, amid claims of unsettled dues and pre-existing disputes concerning the brand 'BEING STRONG'.
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In a significant legal development, Bollywood actor Salman Khan has withdrawn his insolvency appeal against fitness equipment manufacturer Jerai Fitness. This comes after a settlement of a hefty Rs 7.24 crore dispute, which had been brewing since earlier this year.
The legal tussle began when Salman Khan filed an insolvency plea at the National Company Law Tribunal (NCLT), alleging unpaid dues related to his 'BEING STRONG' fitness brand. However, his claim was quashed by NCLT, prompting Khan to move to the appellate level at the National Company Law Appellate Tribunal (NCLAT).
After a series of negotiations, Khan's legal representatives submitted consent terms to the NCLAT, ending the dispute. The tribunal formally dismissed the appeal, marking a closure to the contentious financial disagreement.
(With inputs from agencies.)
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