Wed, 09 Jun 2021 | BUSINESS SALE
One of Manchester's biggest Indian restaurants has been put up for sale following a dispute between the restaurant's founders. Royal Nawaab, the buffet restaurant and banqueting hall based in Levenshulme, has been at the centre of a court dispute after founders Tariq Mahmood Malik and Mahboob Hussain Junior fell out.
Tariq has previously offered to buy out Mahboob for £2.2 million, but this was rejected by Mahboob's lawyers who sated that it was "unacceptable" and not considered a genuine offer do to the nature of the pair's relationship.
Following an unsuccessful £2.2 million buyout offer from Malik, Manchester Civil Justice Centre High Court Judge Stephen Davies, has ruled that the property - including 50 per cent of the company - must be put on sale in a process bounded by the court's terms.
"The court has a discretion not only as to whether or not to order a sale, but also the manner in which any sale should be conducted," Judge Davies added. The judge added that he would order a "full and fair" valuation of the Royal Nawaab property.
Royal Nawaab has been one of Manchester's most popular Asian restaurants since it was opened in 2003. Before the COVID-19 pandemic led to restrictions that forced the restaurant to temporarily close its doors, the business had seen great success as a casual dining venue and a popular takeaway. The restaurant had also taken advantage of local demand for large-scale events such as weddings.
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