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NCLAT refuses to restrain Salman Khan from taking possession of his Mumbai property

Salman Khan had entered into a Leave and License agreement with Kishore Biyani owned Future Retail subsidiary TNSI Retail Private Limited. TNSI operated the Foodhall store in the property.

Koinonia later approached the NCLAT arguing that Foodhall is the wholly owned subsidiary of Future Retail which has now gone into insolvency.

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

The tribunal was told that as Future went into insolvency, Koinonia asked the Resolution Professional (RP) to take possession of the Foodhall business and pay the dues. However, the RP did not respond.

The appellant (Koinonia) then went to the Adjudicating Authority which reserved its orders on February 22.

Source: Barandbench

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