NEW DELHI: Oyo founder Ritesh Agarwal on Wednesday denied reports of the company filing for bankruptcy.
In a tweet, Agarwal said: There is a PDF and text message circulating that claims Oyo has filed for bankruptcy. This is absolutely untrue and inaccurate.
There is a PDF and text message circulating that claims OYO has filed for bankruptcy. This is absolutely untrue and… https://t.co/ViDZHWcLzD Ritesh Agarwal (@riteshagar) 1617780815000
He further clarified that an operational creditor is seeking Rs 16 lakh from Oyo s subsidiary, Oyo Hotels & Homes Private Limited (OHHPL) over non-payment of dues and the National Company Law Tribunal (NCLT) has admitted his plea for corporate insolvency against it.