The National Company Law Appellate Tribunal (NCLAT) has dismissed a petition seeking insolvency proceedings against Amazon Wholesale (India), upholding an NCLT ruling.
New Delhi, Nov 26 (PTI) The National Company Law Appellate Tribunal (NCLAT) has set aside a petition seeking to initiate insolvency proceedings against Amazon Wholesale (India).
A three-member NCLAT bench upheld the order passed by the National Company Law Tribunal (NCLT), which had in March this year dismissed the insolvency plea filed by Multiplier Brand Solutions.
Multiplier Brand Solutions had filed the plea under Section 9 of the Insolvency & Bankruptcy Code. It had alleged a default of Rs 3.7 crore for eight invoices raised between March 2023 and May 2023.
However,…
