NCLAT Refuses To Stop Salman Khan From Taking Possession Of His Mumbai Property

The National Company Law Appellate Tribunal (NCLAT) refused on Friday to prevent Bollywood actor Salman Khan from regaining control of his Mumbai property, which had been leased out to Future Retail to operate a food and beverage store called Foodhall.

A bench comprising NLCAT chairperson Justice Ashok Bhushan and Member (Technical) Barun Mitra dismissed the plea filed by Koinonia Coffee Private Limited, which operated a store in Mumbai’s Linking Road area.

The court stated, “We see no reason to issue any such injunction in this appeal.”

Salman Khan signed a Leave and License deal with Kishore Biyani’s Future Retail company, TNSI Retail Private Limited. TNSI ran the Foodhall store in the property.

Koinonia later approached the NCLAT, claiming that Foodhall is a completely owned subsidiary of Future Retail, which is now bankrupt.

It was stated that Koinonia is in the specialty coffee business and has been participating in the Foodhall business as an exclusive roasting and coffee serving partner since 2018.

The tribunal was told that once Future declared bankruptcy, Koinonia asked the Resolution Professional (RP) to take custody of the Foodhall firm and pay the debts. The RP, however, did not answer.

The appellant (Koinonia) then approached the Adjudicating Authority, which reserved its decision on February 22.

According to Koinonia, once the orders were reserved by the authority, TNSI and the ex-management began conspiring with licensors such as Salman Khan to shut the ‘Foodhall’ stores.

“The Appellant reasonably believes that the ex-management of the Corporate Debtor/TNSI will open supermarkets under a different brand-name,” it stated.

The appellant filed an application before the Adjudicating Authority requesting for pronouncement of an order or, in the meantime, to prevent Khan from taking possession of the property.

The same came to be rejected by way of the present order on March 29, 2023.

Isha Das

Recent Posts

Punjab & Haryana HC Notice To Jindal Law School Over AI-Generated Exam Claims

The Punjab and Haryana High Court on Tuesday has issued a notice to Jindal Global…

2 hours ago

ED Files Money Laundering Complaint Against Charanjit Singh Bajaj, 4 Others

The ED on Tuesday has filed a Prosecution Complaint before the Special Court in Mohali…

3 hours ago

Pune Porsche Case: SC Rejects Anticipatory Bail To Father Of Minor Driver’s Friend

The Supreme Court on Tuesday denied bail to Arunkumar Devnath Singh, whose son is a…

4 hours ago

SC Dumps Plea Against Quashing LOC For Sushant Singh Rajput’s Ex-House Help

The Supreme Court on Tuesday dismissed the Centre's appeal against a Bombay High Court order…

4 hours ago

Rape Case: SC Issues Notice On Ex-Army Officer’s Plea For Quashing Charge sheet

The Supreme Court on Tuesday has agreed to review a plea from retired Army Captain…

5 hours ago

Chhattisgarh NAN Scam: FIR Against 2 Retired IAS Officers, Former AG

The Chhattisgarh Anti-Corruption Bureau on Tuesday has registered a case against 2 retired IAS officers…

5 hours ago