NCLAT dismisses plea seeking insolvency against Amazon Wholesale
The National Company Law Appellate Tribunal (NCLAT) has dismissed an insolvency plea against Amazon Wholesale (India) filed by Multiplier Brand Solutions. The NCLAT upheld a previous NCLT ruling, agreeing that a pre-existing payment dispute negated the insolvency claim. Multiplier Brand Solutions claimed Amazon defaulted on invoices worth ₹3.7 crore, but Amazon disputed the amount.
The National Company Law Appellate Tribunal (NCLAT) has dismissed an insolvency plea against Amazon Wholesale (India) filed by Multiplier Brand Solutions. The NCLAT upheld a previous NCLT ruling, agreeing that a pre-existing payment dispute negated the insolvency claim. Multiplier Brand Solutions claimed Amazon defaulted on invoices worth ₹3.7 crore, but Amazon disputed the amount.
What's Your Reaction?
