SUMMARY
The actor, who had entered an endorsement agreement with the edtech startup on March 8, 2021, sought to recover dues worth over INR 4.83 Cr via the initiation of a corporate insolvency resolution process
In its judgement, the NCLT said that this issue doesn’t qualify as a “debt” and thus is outside of its jurisdiction
The agreement stipulated Kumar to render his services in promoting the startup for a maximum of two days for a total of INR 8.10 Cr
The National Company Law Tribunal (NCLT) has dismissed an insolvency plea filed by actor Akshay Kumar against edtech startup Cuemath’s parent Cue Learn Pvt. Ltd. over non-payment of endorsement fee on January 7.
The actor, who had entered an endorsement agreement with…
