Akshay Kumar moves NCLAT against edtech firm over alleged Rs 4.83 crores payment default : Bollywood News
The National Company Law Appellate Tribunal (NCLAT) is now hearing Bollywood superstar Akshay Kumar’s plea against e-technology company Cue Learn Private Ltd, intensifying the fight over an alleged default of Rs 4.83 crore over an endorsement deal.
Akshay Kumar files NCLAT against ed-tech company over alleged default of Rs 4.83 crore
According to official documents, Akshay Kumar has fulfilled all the conditions of his endorsement deal with Cue Learn, having received only Rs 4.05 crore as his first installment. The second installment, which would have been due regardless of the brand’s subsequent activity, was never paid. Cue Learn cited reasons such as unreceived invoices and scheduling issues for withholding payment.
Akshay Kumar’s legal team first filed the case before the National Company Law Tribunal (NCLT) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, claiming unpaid dues amounting to Rs 4.83 crore since 2021. However, the Delhi bench of the NCLT ruled that the matter was not considered an issue for the code of insolvency, stating that contractual disputes unrelated to operations or financial debt do not fall within its jurisdiction.
“The role of the NCLT is to supervise the insolvency resolution process for eligible debts, and it cannot be extended to encompass disputes of a contractual nature,” the court said in its order.
Undeterred, Akshay Kumar’s lawyers appealed the dismissal to the NCLAT, arguing that the terms of the agreement clearly required Cue Learn to pay the remaining Rs 4 crore, regardless of actual promotional activity. The legal team also noted that the NCLT had not fully considered the relevant clauses of the contract when making its initial decision.
The NCLAT is currently looking into the matter after considering the arguments of the actor’s lawyer.
Also Read: Two Much With Kajol And Twinkle: Akshay Kumar Reveals That A NUDE Saeed Jaffrey Accidentally Entered Saif Ali Khan’s Bathroom: ‘He Opened The Curtain And Saw NUDE Saif Inside!’
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