Oyo dragged to bankruptcy court over 16 lakh dispute | Editorji
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Oyo dragged to bankruptcy court over 16 lakh dispute

Apr 08, 2021 07:12 IST | By Editorji News Desk

The Oyo promoter Ritesh Agarwal was quick to clarify on social media that Oyo was not filing for bankruptcy. The founder of the hotel aggregator app tweeted as many media outlets had received a pdf stating Oyo had filed for insolvency. 

The facts are quiet different, the case of insolvency has been filed against a subsidiary of Oyo over a dispute of Rs 16 lakhs, the subsidiary is Oyo Hotels and Homes Pvt Ltd (OHHPL), which operates under the brand name  Weddingz.in.

The plea has been filed by a Gurgaon hotelier who has accused the company of defaulting on payments.Oyo claims that the Rs 16 lakh in dispute has already been paid to the claimant under protest by the entity with whom the dispute was raised.

Business