Landmark JudgmentNational Company Law Appellate Tribunal, Principal Bench, New DelhiAkshay Kumar Bhatia v. Cue Learn: celebrity endorsement fee is not operational debtNCLAT held on 9 February 2026 that a contested endorsement-fee instalment, plausibly linked to actual service-days, gives rise at most to a damages claim, not to operational debt under s.5(21) IBC; CIRP cannot be a recovery forum.Valkya Editorial·1 Jun 2026·8 min