What's the story

Bollywood actor Salman Khan has withdrawn his insolvency petition against equipment manufacturer Jerai Fitness Pvt Ltd. The withdrawal comes after the two parties reached a settlement over a ₹7.24 crore payment dispute related to Khan's fitness equipment brand, Being Strong. The agreement was confirmed before the National Company Law Appellate Tribunal (NCLAT) on Wednesday, with Justice Ashok Bhushan presiding over the matter.

Legal battle

What was the dispute all about?

The dispute originated from a trade license agreement between Khan's Being Strong and Jerai Fitness in October 2018. The agreement allowed Jerai to use the "Being Strong" trademark on its manufactured products. However, due to business disruptions and the COVID-19 pandemic, Khan revised the royalt

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