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Insolvency plea against Amazon Wholesale dismissed again

On November 21, the National Company Law Appellate Tribunal (NCLAT) rejected an appeal from Multiplier Brand Solutions, which had challenged the National Company Law Tribunal’s (NCLT) decision to dismiss its insolvency petition against Amazon Wholesale (India). The Bench, led by Chairperson Justice Ashok Bhushan and technical members Barun Mitra and Arun Baroka, found nothing wrong…

NCLAT dismisses insolvency plea against Amazon Wholesale

The company provided manpower and related services for Amazon Device Projects based on purchase orders issued between October 2022 and May 2023. Subsequently, invoices amounting to ₹3.69 crore were raised from March 2023 to May 2023, and payment approval was requested. It contended that though Amazon Wholesale confirmed that two invoices were approved but delayed due…

Byju’s Faces New Probe Over Financial, Accounting Practices – BNN Bloomberg

(Bloomberg) — India has started an investigation into financing and accounting practices at Byju’s, according to people with knowledge of the matter, after a previous inspection found corporate governance lapses at the struggling online tutoring firm. The federal government has asked the regional office of the Registrar of Companies in Hyderabad to investigate Byju’s books…