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, rejecting it, NCLAT said the "claim of Appellant for payment of invoices which are the subject matter of Section 9 Application was disputed much before Demand Notice was issued". The appellate tribunal further said: "The adjudicating authority (NCLT) has not committed any error in refusing to initiate CIRP, there being pre-existing dispute which is reflected with the correspondence which took place between the parties much prior to ...