National Company Law Tribunal, New Delhi: In an application filed by Bollywood actor Akshay Kumar against Cue Learn Private Limited, a company providing tutoring services, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, a Division Bench of Manni Sankariah Shanmuga Sundaram* (Judicial Member) and Dr. Sanjeev Ranjan (Technical Member), held that the alleged claim-debt did not qualify as operational debt under Section 5(21) of the IBC and dismissed the application.
In the instant matter, the Applicant entered into an Endorsement Agreement with the respondent on 08-03-2021 to endorse the respondent’s services. The…
