Bollywood superstar Salman Khan withdrew his insolvency plea against Jerai Fitness Pvt. Ltd. after reaching a settlement in a ₹ 7.24 crore payment dispute.

The dispute is linked to Khan's fitness equipment brand Being Strong.

What's the case?

Khan, who owns trademark "BEING STRONG" and has the exclusive right to grant a licence and the right to use the same, had entered into a trade licence agreement in October 2018, news agency PTI reported.

Jerai Fitness was granted a licence for the usage of trademark "BEING STRONG" on the products manufactured by it.

Later, due to interruptions in business and the onset of the COVID-19 pandemic, at the request of the Corporate Debtor, the Bollywood actor agreed to revise the royalty payable to him from the period of commencement of the first a

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