NCLAT upholds NCLT order dismissing Multiplier Brand Solutions' insolvency plea against Amazon Wholesale, citing pre-existing disputes over claimed invoices.

Chennai, has dismissed an appeal filed by the official liquidator of M/s RLS Alloys Pvt. Ltd., challenging an order issued by the National Company Law Tribunal (NCLT) directing an inquiry into the conduct of the liquidator. The bench, comprising Justice Sharad Kumar Sharma (Member Judicial) and Jatindranath Swain (Member Technical), held that the appeal was premature and that the liquidator could not initiate proceedings under Section 61 to contest directions given to the Insolvency and Bankruptcy Board of India (IBBI).

It was carried out under the Companies Act, 2013, and the disclosure was made in compliance with the SEBI regulations

Over 40 buyers claimed a default of Rs.112.90 crore against the realtor

The apex court had nullified the NCLAT order allowing a payment settlement between the two entities

The deal was classified as a 'green channel' and does not raise competition concerns

Directs listing the matter for further orders in the first week of April 2025

The integrated airline will operate over 5,600 weekly flights to more than 90 destinations

The company plans to file an appeal with the appellate authority

The banks had opposed the appellate tribunal’s order of transferring the carrier to winning bidder Jalan Kalrock Consortium

The sanction will not affect the pending actions by government authorities

NCLT Mumbai rules that defaults during the Section 10A period of IBC remain protected, barring insolvency initiation afterward.