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The other three clubs who failed to obtain the licence for the upcoming season are Hyderabad FC, Jamshedpur FC, and Odisha FC.
Chhetri, who made his debut in 2005, has scored 94 goals for the country. He will leave the scene as India's all-time top-scorer and most-capped player.
Allegri became the first coach to win the Coppa Italia five times after Sven-Goran Eriksson and Roberto Mancini lifted the trophy on four occasions.
The result also meant Aston Villa have qualified for Champions League for the first time since the 1982-83.
Manchester City, who are aiming for an unprecedented fourth consecutive English top-flight title, can retake the lead when they play at Arsenal's London rivals Tottenham Hotspur on Tuesday.
Pep Guardiola's relentless side, closing in on an unprecedented fourth English title in a row, has 85 points from 36 games, with Arsenal on 83 having also played 36.
There has been widespread media speculation that Mbappe will move to Real Madrid. Mbappe did not mention the Spanish champions in his video but confirmed he would leave France.
Organised jointly by the Kerala Football Association and Scoreline Sports Private Limited, the SLK will run for 45 days.
Villa's inability to open up the defence was in stark contrast to El Kaabi, who only needed the slightest sniff of a chance against the English side to put the ball in the net.
The Italians will take on Bayer Leverkusen, who overcame AS Roma, in their first European final in Dublin on May 22.