New Delhi, Multiplier Brand Solutions has moved the NCLAT against the National Company Law Tribunal order which had dismissed its bankruptcy petition against Amazon Wholesale (India).

A three-member NCLAT bench, also including Chairman Justice Ashok Bhushan, on Thursday directed to list the appeal on July 15 for further hearing on the petition against Amazon Wholesale (India).

On March 5, 2024, the Delhi-based NCLT bench had dismissed the bankruptcy petition filed by Multiplier Brand Solutions, an operational lender, against Amazon Wholesale (India).

Multiplier Brand Solutions had filed the petition under Section 9 of the Insolvency and Bankruptcy Code. According to reports, it alleged a default of Rs 3.7 crore for eight challans raised between March 2023 and May 2023.

It had entered into an innovation and replacement agreement between Amazon Seller Services and Amazon Wholesale (India) in Bengaluru.

However, this was opposed by Amazon and a dispute existed regarding the amount claimed by the operational lender before the demand notice was issued.

Agreeing to this, NCLT rejected the petition. However, he said that he was not expressing any opinion on the entitlement of the corporate debtor or on the claim raised by the petitioner.

"In view of the above, particularly the dispute raised by the corporate debtor with respect to the liability to pay the amount demanded by the operational creditor and bound by the above judgment of the Supreme Court, we order initiation of CIRP for the corporate debtor. The debtors are incapable,” NCLT said.

This order was challenged by Multiplier Brand Solutions before the appellate tribunal, NCLAT, in April this year.