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Ritesh Agarwal says the only thing that matters on the journey to success is one s experience with failures

OYO: It s raining unicorns in India: Vani Kola s 4-role plan for a successful start-up, Oyo boss asks people to celebrate others achievements

OYO: It s raining unicorns in India: Vani Kola s 4-role plan for a successful start-up, Oyo boss asks people to celebrate others achievements
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NCLT admits insolvency plea against OYO entity, company challenges order

NCLT admits insolvency plea against Oyo entity, company challenges order NCLT admits insolvency plea against Oyo entity, company challenges order Oyo has challenged the NCLT order initiating corporate insolvency proceedings against its entity, Oyo Hotels and Homes Pvt Limited. Oyo also rubbished bankruptcy rumours doing rounds online. advertisement UPDATED: April 7, 2021 14:17 IST Oyo has challenged the NCLT order initiating corporate insolvency proceedings against one of its subsidiaries. (Photo: Reuters) A plea for corporate insolvency proceeding has been admitted by the National Company Law Tribunal (NCLT) against a subsidiary of Soft Bank-backed Oyo Rooms. Oravel Stays Pvt Limited, the parent company Oyo Rooms, has challenged the NCLT order initiating insolvency proceedings against OYO Hotels and Homes Pvt Limited (OHHPL).

India: NCLT initiates insolvency proceedings against Oyo subsidiary

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.

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