Multiplier Brand Solutions has moved NCLAT against an order of the National Company Law Tribunal which dismissed its insolvency plea against Amazon Wholesale (India).
A three-member NCLAT bench which also comprised Chairperson Justice Ashok Bhushan on Thursday directed to list the appeal on July 15 for next hearing over the petition against Amazon Wholesale (India).
On March 5, 2024, the Delhi-based NCLT bench had rejected an insolvency plea filed by Multiplier Brand Solutions, an operational creditor, against Amazon Wholesale (India).
Multiplier Brand Solutions had filed the plea under Section 9 of the Insolvency & Bankruptcy Code. According to reports, it had alleged default of Rs 3.7 crore for eight invoices raised between March 2023 and May 2023.
It had entered into a novation and substitution agreement at Bengaluru between Amazon Seller Services and Amazon Wholesale (India).
However, it was opposed by Amazon and submitted existence of dispute regarding the amount claimed by operational creditor prior to issuance of demand notice.
Agreeing to this, NCLT rejected the plea. However, it said it was not expressing any opinion on entitlement or the claim raised by the petitioner on the corporate debtor.
"In view of the aforementioned, particularly the dispute raised by the corporate debtor regarding its liability to pay the amount demanded by the operational creditor and being bound by the aforementioned judgment of the Supreme Court, we are unable to order commencement of CIRP qua the corporate debtor," said NCLT.
This order was challenged by Multiplier Brand Solutions in April this year before the appellate tribunal, NCLAT.
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