Akshay Kumar Battles EdTech Giants: Shocking Rs 4.83 Crore Payment Default Sparks Controversy!
Akshay Kumar Takes Center Stage in Edtech Drama: NCLAT Battle Over 4.83 Crores
Well, darling, grab your popcorn because the silver screen drama has leapt off the set and into the lively courtroom of the National Company Law Appellate Tribunal (NCLAT). Bollywood’s beloved superstar, Akshay Kumar, is facing off against Cue Learn Private Ltd, an edtech firm, in a riveting saga that revolves around an alleged unpaid endorsement deal worth a staggering Rs 4.83 crores.
Picture this: Akshay, the ever-charismatic star whose smile lights up screens, claims he’s ticked off every box in his endorsement contract with Cue Learn. Having received a mere Rs 4.05 crores as his first installment, he’s now left dangling, with the second installment-due no matter how much promotion was pulled-vanishing into thin air. Cue Learn, on the other hand, is alleging a sprinkling of excuses: unreceived invoices and scheduling hiccups, leaving us all pondering if someone misplaced a few important documents amid the flashing lights.
Before the drama escalated to this high-stakes courtroom showdown, Akshay’s legal team took their grievances to the National Company Law Tribunal (NCLT). They leaned on Section 9 of the Insolvency and Bankruptcy Code (IBC) of 2016, alleging that the dues had been festering since 2021. However, the Delhi bench of the NCLT wasn’t having it, declaring that the matter didn’t fit the insolvency code. In their eyes, this was merely a contractual spat-not operational or financial debt worthy of their attention. The tribunal made it crystal clear: “Our responsibilities are strictly for insolvency resolution; contractual differences? Not our circus, not our monkeys!”
But wait, our hero isn’t backing down. Undeterred, Akshay’s legal eagles have flown up the ladder to the NCLAT, asserting that the contract’s black-and-white terms unambiguously bind Cue Learn to settle the remaining Rs 4 crores-regardless of how lively the marketing scene has been. Notably, they pointed out that the NCLT failed to take crucial contract clauses into account during its initial judgment.
As we eagerly await the NCLAT’s next moves, the tension is palpable, and the courtroom echoes with the whispers of this engaging saga. After all, in the world of Bollywood, the drama never truly ends; it merely takes a new form. And who knows what juicy insights might emerge next? Stay tuned!
Original Story https://www.bollywoodhungama.com/news/bollywood/akshay-kumar-moves-nclat-edtech-firm-alleged-rs-4-83-crores-payment-default/
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