Synopsis
"The creditors of Oyo Hotels & Homes are hereby called upon to submit their claims before April 15 to the interim resolution professional," a copy of an April 4 NCLT order, signed by interim resolution professional Keyur Jagdishbhai Shah and seen by ET stated.
Oyo is recovering from the pandemic steadily and our largest markets are operating profitably, founder Ritesh Agarwal tweeted on Wednesday.
SoftBank-backed Oyo Hotels & Homes scotched speculation on social media platforms over bankruptcy proceedings, which had been sparked by a National Company Law Tribunal (NCLT) order over a claim of Rs 16 lakh in dues by a hotel owner.
"There is a pdf and text message circulating that Oyo has filed for bankruptcy. This is absolutely untrue and inaccurate. A claimant is seeking Rs 16 lakh from Oyo's subsidiary leading to a petition at NCLT,” Oyo’s founder Ritesh Agarwal tweeted on Wednesday.