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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. ....
The National Company Law Tribunal (NCLT) has admitted a petition for the commencement of corporate insolvency proceedings against OYO Hotels and Homes Pvt Ltd (OHHPL), a subsidiary of Oyo Group, on March 30, 2021 over the plea filed by its creditor Rakesh Yadav, YourStory has learnt. YourStory, OYO Group said it has filed an appeal with the National Company Law Appellate Tribunal (NCLAT), challenging the NCLT order against its subsidiary, OHHPL, for an amount of Rs 16 lakh. The company also said the Rs. 16 lakh disputed amount has already been paid to the claimant under protest by the entity with whom the dispute was raised (other than OHHPL). ....
NCLT Initiates Insolvency Proceedings Against OYO Hotels and Homes moneylife.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneylife.in Daily Mail and Mail on Sunday newspapers.