Bollywood actor Akshay Kumar recently faced a setback in his legal battle as the National Company Law Tribunal (NCLT) dismissed his insolvency petition against the ed-tech company Cue Learn Pvt. Ltd. The dispute revolves around an endorsement agreement Kumar signed with Cue Learn in March 2021, for a total fee of ₹8.10 crore. According to the terms, this amount was to be paid in two equal installments. While the first installment was duly paid, the second installment, amounting to ₹4.83 crore, was allegedly withheld by the company.
Akshay Kumar filed the petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), claiming that the unpaid amount constituted “operational debt.” However, Cue Learn argued that…
