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.