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India: NCLT initiates insolvency proceedings against Oyo subsidiary
Ritesh Agarwal. Photographer: Samyukta Lakshmi/Bloomberg
April 7, 2021
The National Company Law Tribunal (NCLT) has ordered a corporate insolvency resolution proceeding against hospitality unicorn OYO’s subsidiary, OYO Hotels and Homes Pvt. Ltd, over a dispute of ₹16 lakh. OYO said it had filed an appeal challenging the insolvency order.
The court ordered the insolvency proceedings on 30 March, with OYO given time until 15 April to submit its claims.
“Notice is given that the National Company Law Tribunal has ordered the commencement of a corporate insolvency resolution process of the OYO Hotels and Homes Pvt. Ltd on 30th March 2021 (w.e.f. 01st April 2021). The creditors of M/S. OYO Hotels and Homes Pvt. Ltd, are hereby called upon to submit their claims with proof on or before 15th April, 2021 to the interim resolution professional,” read the NLCT order. ....

Keyur Jagdishbhai Shah , Ritesh Agarwal , National Company Law Tribunal , Jagdishbhai Shah , Zostel Hospitality , Zostel Hostels , Oravel Stays , Oyo Rooms , கீயர் ஜக்திஷிபை ஷா , ரித்தேஷ் அகர்வால் , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் , ஜக்திஷிபை ஷா , ஜொஸ்தேல் விருந்தோம்பல் , ஜொஸ்தேல் விடுதிகள் , ஓரகவேல் தங்குகிறது , ஓயோ அறைகள் ,