National Company Law Appellate Tribunal (NCLAT) is now hearing Bollywood superstar Akshay Kumar’s plea against edtech firm Cue Learn Private Ltd, escalating the fight over an alleged Rs 4.83 crores payment default from an endorsement deal.
Akshay Kumar moves NCLAT against edtech firm over alleged Rs 4.83 crores payment default
According to official filings, Akshay Kumar fulfilled all terms of his endorsement contract with Cue Learn, having received only Rs 4.05 crores as his first instalment. The second instalment, reportedly due regardless of further brand activity, was never paid. Cue Learn cited reasons such as unreceived invoices and scheduling issues for withholding payment.
Akshay Kumar’s legal team first took the matter to 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 crores since 2021. However, the Delhi bench of NCLT ruled that the case didn’t qualify as an issue for the insolvency code, stating that contract disputes not tied to operational or financial debt are out of its jurisdiction.
“The NCLT’s role is to oversee the insolvency resolution process for qualifying debts, and it cannot be expanded to encompass disputes of a contractual nature,” the tribunal clarified in its order.
Undeterred, Akshay Kumar’s lawyers appealed the dismissal to NCLAT, arguing that the deal’s terms clearly obligated Cue Learn to pay the remaining Rs 4 crores regardless of actual promotional activity. The legal team also noted that the NCLT did not fully consider the contract’s relevant clauses during its initial ruling.
The NCLAT is now considering the matter after reviewing submissions from the actor’s counsel.
Also Read: Two Much With Kajol And Twinkle: Akshay Kumar reveals that a NAKED Saeed Jaffrey once accidentally got into Saif Ali Khan’s bathroom: “He opened the curtain and saw Saif NAKED inside!”
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