New Delhi, Oct. 8 -- Bollywood superstar Salman Khan withdrew his insolvency plea against Jerai Fitness Pvt. Ltd. after reaching a settlement in a Rs.7.24 crore payment dispute.

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

Appearing before the National Company Law Appellate Tribunal (NCLAT), Khan's counsel informed the bench led by Justice Ashok Bhushan on Wednesday that the parties had resolved the matter and decided to withdraw the petition.

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 "BEI...