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Claims of Rs 160 crore filed against Oyo subsidiary as NCLAT refuses to stay corporate insolvency proceedings

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. ....

Keyurj Shah , Keyur Shah , Rakesh Yadav , National Company Law Tribunal , Oyo Hotels , Committee Of Creditors , National Company Law Appellate Tribunal , National Company Law , Interim Resolution Professional , Preferred Transformation , கீயர் ஷா , ராகேஷ் யாதவ் , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் , ஓயோ ஹோட்டல் , குழு ஆஃப் கடன் வழங்குநர்கள் , தேசிய நிறுவனம் சட்டம் மேல்முறையீடு தீர்ப்பாயம் , தேசிய நிறுவனம் சட்டம் , இடைக்கால தீர்மானம் ப்ரொஃபெஶநல் ,

Oyo news: Oyo challenges bankruptcy case at NCLT | India Business News

MUMBAI/BENGALURU: Oyo has challenged an order from the National Company Law Tribunal (NCLT), which admitted a plea for corporate insolvency proceedings against the company’s subsidiary Oyo Hotels & Homes, which houses the India business.
Oyo founder & CEO Ritesh Agarwal took to Twitter to describe the charges as “untrue and inaccurate”. The matter is expected to be heard in the appellate tribunal on Thursday.
Sources aware of the matter said the order’s origin goes back to a disputed amount of Rs 16 lakh between Oyo and a hotel owner, Rakesh Yadav, with regard to the ‘minimum guarantee’ that Oyo provides to owners. ....

Keyur Shah , Rakesh Yadav , Ritesh Agarwal , Oyo Hotels Homes , National Company Law Tribunal , National Company Law Appellate Tribunal , Oyo Hotels , கீயர் ஷா , ராகேஷ் யாதவ் , ரித்தேஷ் அகர்வால் , ஓயோ ஹோட்டல் வீடுகள் , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் , தேசிய நிறுவனம் சட்டம் மேல்முறையீடு தீர்ப்பாயம் , ஓயோ ஹோட்டல் ,

Why The NCLT Admitted An Insolvency Plea Against OYO Hotels

Why The NCLT Admitted An Insolvency Plea Against OYO Hotels
Apr 07 2021, 9:31 PM
April 07 2021, 9:31 PM
April 07 2021, 9:31 PM
A dispute over a Rs 16 lakh payment between Oyo Hotels & Homes Pvt. and a Gurgaon-based hotel owner has led to the initiation of insolvency proceedings against the Oyo subsidiary. The company runs hotel rooms and vacations home rentals across 80 countries.The National Company Law Tribunal, Ahmedabad, found that the petition by Rakesh Yadav, owner of Yellow White Residency hotel, fulfilled the conditions under the Insolvency and Bankr.
A dispute over a Rs 16 lakh payment between Oyo Hotels & Homes Pvt. and a Gurgaon-based hotel owner has led to the initiation of insolvency proceedings against the Oyo subsidiary. The company runs hotel rooms and vacations home rentals across 80 countries. ....

Keyur Shah , Rakesh Yadav , Oyo Hotels Homes Pvt , National Company Law Tribunal , Oyo Hotels , Hospitality Ltd , Hotel Argument , Oyo Hotel , Yellow White Residency , Bankruptcy Code , Bankruptcy Board , Preferred Transformation , கீயர் ஷா , ராகேஷ் யாதவ் , ஓயோ ஹோட்டல் வீடுகள் பிரைவேட் , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் , ஓயோ ஹோட்டல் , விருந்தோம்பல் லிமிடெட் , திவால்நிலை குறியீடு , திவால்நிலை பலகை ,

Oyo challenges bankruptcy case at NCLT | India News

MUMBAI/BENGALURU: Oyo has challenged an order from the National Company Law Tribunal (NCLT), which admitted a plea for corporate insolvency proceedings against the company’s subsidiary Oyo Hotels & Homes, which houses the India business.
Oyo founder & CEO Ritesh Agarwal took to Twitter to describe the charges as “untrue and inaccurate”. The matter is expected to be heard in the appellate tribunal on Thursday.
Sources aware of the matter said the order’s origin goes back to a disputed amount of Rs 16 lakh between Oyo and a hotel owner, Rakesh Yadav, with regard to the ‘minimum guarantee’ that Oyo provides to owners. Oyo used to offer a minimum amount per month to property owners regardless of the business the property did. Agarwal said Oyo has already paid this money to Yadav, a hotelier who runs his facility in Sector 17C Gurugram, “under protest” and that the amount has been banked by the claimant. ....

Keyur Shah , Rakesh Yadav , Ritesh Agarwal , Oyo Hotels Homes , National Company Law Tribunal , National Company Law Appellate Tribunal , Oyo Hotels , கீயர் ஷா , ராகேஷ் யாதவ் , ரித்தேஷ் அகர்வால் , ஓயோ ஹோட்டல் வீடுகள் , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் , தேசிய நிறுவனம் சட்டம் மேல்முறையீடு தீர்ப்பாயம் , ஓயோ ஹோட்டல் ,

oyo latest news: Oyo taken to insolvency board by Hyderabad hotel

oyo latest news: Oyo taken to insolvency board by Hyderabad hotel
indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.

Keyur Shah , National Company Law Tribunal Ahmedabad , Oyo Hotels Homes , Homes Private Limited On , Oravel Stays Pvt Ltd , Oyo Rooms , National Company Law Tribunal , Homes Private Limited , Oyo Hotels , கீயர் ஷா , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் அஹமதாபாத் , ஓயோ ஹோட்டல் வீடுகள் , வீடுகள் ப்ரைவேட் வரையறுக்கப்பட்டவை ஆன் , ஓரகவேல் தங்குகிறது பிரைவேட் லிமிடெட் , ஓயோ அறைகள் , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் , வீடுகள் ப்ரைவேட் வரையறுக்கப்பட்டவை , ஓயோ ஹோட்டல் ,