NCLT admits insolvency plea against OYO arm; Co. moves NCLAT
By IANS |
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New Delhi, April 7 : The Ahmedabad-bench National Company Law Tribunal (NCLT) has admitted the insolvency application against OYO subsidiary, OYO Hotels & Homes Private Ltd (OHHPL).
Following the development, OYO has moved the National Company Law Appellate Tribunal (NCLAT) against the NCLT order.
An OYO spokesperson said: We are surprised to hear that the NCLT has admitted a petition against OHHPL a subsidiary of OYO for Rs 16 lakh in a contractual dispute, which dispute is not even with this subsidiary.