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K Yadav, who filed a plea with the The National Company Law Tribunal against a unit of hospitality firm Oyo, has withdrawn the case after resolving issues with the company.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

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 ,