Latest Breaking News On - Oravel stays pvt ltd - Page 5 : vimarsana.com
No, not bankruptcy! Oyo insolvency admitted by NCLT for Rs 16 lakh dispute
Oyo Founder and CEO Ritesh Agarwal has dismissed rumours that Oyo has filed for bankruptcy
Manu Kaushik | April 7, 2021 | Updated 13:46 IST
Oyo Founder and CEO Ritesh Agarwal
A fresh case of insolvency has been filed against the subsidiary of Oyo over a dispute of Rs 16 lakh. The National Company Law Tribunal (NCLT) has admitted the case and ordered the commencement of corporate insolvency proceedings on March 31, 2021. The NCLT has ordered the creditors of Oyo Hotels and Homes Private Limited (OHHPL), Oyo s subsidiary, to submit their claims by April 15 to the interim resolution professional (IRP) based in Ahmedabad.
Ahmedabad
Gujarat
India
Mumbai
Maharashtra
Bengaluru
Karnataka
Oyo-ritesh-agarwal
Ritesh-agarwal
National-company-law-tribunal
Oravel-stays-pvt-ltd
Oyo-hotels
Highlights
CEO publishes series of tweets.
NCLT order pertains to the Ahmedabad entity.
New Delhi: Several news reports on Tuesday said that Hospitality firm OYO has applied for bankruptcy under IBC 2016.
However, the company s CEO Ritesh Agarwal denied claims via a series of tweets and said that OYO has not filed for bankruptcy. THe NCLT order pertains to the Ahmedabad entity and not exactly for Oravel Stays Pvt Ltd. There is a PDF and text message circulating that claims OYO has filed for bankruptcy. This is absolutely untrue and inaccurate. A claimant is seeking INR 16Lakhs (USD 22k) from OYO s subsidiary leading to a petition at NCLT, said company s CEO Ritesh Agarwal.
Ahmedabad
Gujarat
India
New-delhi
Delhi
Ritesh-agarwal
Oravel-stays-pvt-ltd
Oravel-stays-pvt
அஹமதாபாத்
குஜராத்
இந்தியா
புதியது-டெல்ஹி