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Claims of Rs 160 crore filed against Oyo subsidiary as NCLAT refuses to stay corporate insolvency proceedings
9 hours ago
Creditors have submitted claims for Rs 160 crore from Oyo subsidiary Oyo Hotels and Homes Pvt. Ltd. (OHHPL), against which a corporate insolvency proceeding began earlier this month under the directions of the National Company Law Tribunal. This was first reported by Entrackr.
On April 7, the NCLT had admitted OHHPL under the corporate insolvency resolution process after one of its hotel partners filed a Rs 16 lakh claim against the company. The petition to begin insolvency proceedings was filed by Rakesh Yadav, who was owed Rs 16 lakhs in dues, since OHHPL started defaulting on payments. The tribunal had asked OHHPL’s creditors to file their claims with proof to Keyur J Shah, the appointed interim resolution professional by April 15.