The National Company Law Appellate Tribunal (NCLAT) is now hearing Bollywood superstar Akshay Kumar’s plea against edtech firm QLearn Pvt Ltd, escalating the fight over alleged payment default of Rs 4.83 crore from an endorsement deal.
Akshay Kumar moves NCLAT against edtech firm over alleged payment default of Rs 4.83 crore
According to the official filing, while Akshay Kumar fulfilled all the terms of his endorsement contract with Q Learn, he received only Rs 4.05 crore as the first installment. The second installment was reportedly never paid regardless of the brand’s further activity. QLearn cited reasons such as unpaid invoices and scheduling problems for stopping payments.
Akshay Kumar’s legal team first took the case to the National Company Law Tribunal (NCLT) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, claiming dues of Rs 4.83 crore from 2021. Are beyond his jurisdiction.
“The role of the NCLT is to oversee the insolvency resolution process for eligible loans, and it cannot be extended to include disputes of contractual nature,” the tribunal clarified in its order.
Undaunted, Akshay Kumar’s lawyers appealed the dismissal in the NCLAT, arguing that the terms of the deal clearly obliged Q Learn to pay the remaining Rs 4 crore regardless of the actual promotional activity. The legal team also noted that the NCLT did not fully consider the relevant clauses of the contract during its initial decision.
The NCLAT is now considering the case after reviewing the arguments of the actor’s lawyer.
Also Read: Too Much With Kajol and Twinkle: Akshay Kumar reveals that once naked Saeed Jaffrey accidentally entered Saif Ali Khan’s bathroom: “He opened the curtain and saw Saif naked inside!”
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