The National Company Law Appellate Tribunal (NCLAT) has upheld the decision of the National Company Law Tribunal (NCLT) rejecting an insolvency application filed by actor Akshay Kumar Bhatia against ed-tech firm Cue Learn Private Limited, holding that the matter involved a contractual dispute rather than a case of insolvency under the Insolvency and Bankruptcy Code, 2016 (IBC).
The appellate bench observed that insolvency proceedings cannot be used as a recovery mechanism where the existence of debt itself is contested. It agreed with the NCLT’s view that the dispute required adjudication by a civil court and did not meet the threshold for initiating a corporate insolvency resolution process.
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