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Oyo-NCLT case: Hotelier to withdraw insolvency plea against Oyo unit

Gurugram-based hotelier Rakesh K Yadav, who filed a plea with the The National Company Law Tribunal against a unit of hospitality firm Oyo, has withdrawn the case after resolving issues with the company.
“After open discussion with teams from Oyo and its subsidiaries, I fully withdraw the case and confirm that all issues are resolved. I also acknowledge the receipt of Rs 16 lakh under the MSA (master service agreement) with MTH. I have observed in my interactions that Oyo and its employees are always committed to professional conduct and business practices. I am thankful for Oyo s innovative business model and technology that has enabled the growth of small and medium hotels of India,” Yadav said. ....

Riteish Agarwal , Rakeshk Yadav , Keyur Jagdishbhai Shah , Srinivas Kotni , National Company Law Tribunal , Oravel Stays Pvt , Oyo Hotels , Homes Pvt Limited , Hospitality Private Ltd , Keyurj Shah Associates , National Company Law Appellate Tribunal , Preferred Transformation , Bankruptcy Code , Oyo Rooms , Stays Pvt Limited , கீயர் ஜக்திஷிபை ஷா , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் , ஓரகவேல் தங்குகிறது பிரைவேட் , ஓயோ ஹோட்டல் , வீடுகள் பிரைவேட் வரையறுக்கப்பட்டவை , விருந்தோம்பல் ப்ரைவேட் லிமிடெட் , தேசிய நிறுவனம் சட்டம் மேல்முறையீடு தீர்ப்பாயம் , திவால்நிலை குறியீடு , ஓயோ அறைகள் , தங்குகிறது பிரைவேட் வரையறுக்கப்பட்டவை ,

oyo latest news: Oyo squashes rumours of bankruptcy following an NCLT order

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. ....

Keyur Jagdishbhai Shah , Ritesh Agarwal , Oyo Hotels Homes , National Company Law Tribunal , Oyo Hotels , Softbank Backed Oyo Hotels , Oravel Stays , Bankruptcy Code , கீயர் ஜக்திஷிபை ஷா , ரித்தேஷ் அகர்வால் , ஓயோ ஹோட்டல் வீடுகள் , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் , ஓயோ ஹோட்டல் , ஓரகவேல் தங்குகிறது , திவால்நிலை குறியீடு ,

NCLAT orders stay in insolvency proceedings against Oyo's subsidiary

NCLAT orders stay in insolvency proceedings against Oyo's subsidiary
timesnownews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesnownews.com Daily Mail and Mail on Sunday newspapers.

New Delhi , Keyur Jagdishbhai Shah , Rakesh Yadav , Ritesh Agarwal , National Company Law Tribunal , Homes Pvt Ltd , Homes Private Limited , Keyurj Shah Associates , National Company Law Appellate Tribunal , Representational Image , Oravel Stays , Bankruptcy Code , புதியது டெல்ஹி , கீயர் ஜக்திஷிபை ஷா , ராகேஷ் யாதவ் , ரித்தேஷ் அகர்வால் , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் , வீடுகள் பிரைவேட் லிமிடெட் , வீடுகள் ப்ரைவேட் வரையறுக்கப்பட்டவை , தேசிய நிறுவனம் சட்டம் மேல்முறையீடு தீர்ப்பாயம் , ஓரகவேல் தங்குகிறது , திவால்நிலை குறியீடு ,

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.
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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). ....

Keyur Jagdishbhai Shah , Ritesh Agarwal , National Company Law Tribunal , Oravel Stays Pvt , Homes Pvt Limited , Soft Bank Backed Oyo , Stays Pvt Limited , Oyo Rooms , கீயர் ஜக்திஷிபை ஷா , ரித்தேஷ் அகர்வால் , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் , ஓரகவேல் தங்குகிறது பிரைவேட் , வீடுகள் பிரைவேட் வரையறுக்கப்பட்டவை , தங்குகிறது பிரைவேட் வரையறுக்கப்பட்டவை , ஓயோ அறைகள் ,

NCLT admits corporate insolvency proceedings against Oyo's Ahmedabad subsidiary

2 hours ago
The National Company Law Tribunal (NCLT) has admitted Oyo Hotels and Homes Pvt. Ltd. (OHHPL), an Ahmedabad subsidiary of the Oyo Group, under the corporate insolvency resolution process after one of its hotel partners filed a Rs 16 lakh claim against the company.
Rakesh Yadav had moved a petition under Insolvency & Bankruptcy Code to seek compensation on unpaid dues. The owner of a 21-room hotel in Gurgaon, Yadav had entered an exclusive agreement with OHHPL permitting his hotel to be operated under the Oyo brand. However, Yadav is now owed Rs 16 lakhs in dues, since OHHPL started defaulting on payments. ....

Keyur Jagdishbhai Shah , Rakesh Yadav , Ritesh Agarwal , National Company Law Tribunal , Committee Of Creditors Co , Toyo Group , Oyo Hotels , National Company Law Appellate Tribunal , Bankruptcy Code , Bankruptcy Board , கீயர் ஜக்திஷிபை ஷா , ராகேஷ் யாதவ் , ரித்தேஷ் அகர்வால் , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் , குழு ஆஃப் கடன் வழங்குநர்கள் இணை , ஓயோ குழு , ஓயோ ஹோட்டல் , தேசிய நிறுவனம் சட்டம் மேல்முறையீடு தீர்ப்பாயம் , திவால்நிலை குறியீடு , திவால்நிலை பலகை ,