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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Rakesh K Yadav, who filed a plea with the The National Company Law Tribunal against a unit of hospitality firm Oyo, has withdrawn the case after resolving issues with the company.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 ,

[YourStory Exclusive] NCLT admits petition for insolvency proceedings against OYO subsidiary; OYO challenges o


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). ....

Keyur Jagdhishbai Shah , Rakesh Yadav , Ritesh Agarwal , National Company Law Tribunal , Committee Of Creditors Co , Homes Pvt Ltd , Keyurj Shah Associates , Hotels Homes , National Company Law Appellate Tribunal , Bankruptcy Code , Jagdhishbai Shah , Keyurj Shah , ராகேஷ் யாதவ் , ரித்தேஷ் அகர்வால் , தேசிய நிறுவனம் சட்டம் தீர்ப்பாயம் , குழு ஆஃப் கடன் வழங்குநர்கள் இணை , வீடுகள் பிரைவேட் லிமிடெட் , ஹோட்டல் வீடுகள் , தேசிய நிறுவனம் சட்டம் மேல்முறையீடு தீர்ப்பாயம் , திவால்நிலை குறியீடு ,