Is OYO company bankrupt? Rumors erupted on social media, know the whole matter

new Delhi: There were reports that OYO Rooms, the company providing hotel rooms on rent, has applied for bankruptcy. However, these reports have been denied by the CEO of the company itself and they have described the matter as something else.

Oyo Room provides hotel rooms at home and abroad. Hotel rooms can be booked online through Oyo. However, now such reports have come out, in which it was claimed that the Oyo company has gone bankrupt. However, such reports have been rejected by Oyo Rooms founder and CEO Ritesh Aggarwal.

Giving information by tweeting, Ritesh Aggarwal said that there are reports that Oyo has applied for bankruptcy. it is not true. Actually, the National Company Law Tribunal (NCLT) has approved the Corporate Insolvency Proceeding against a subsidiary of Oyo Group. It is based on the application filed with an arrear of Rs 16 lakh.

Explain that NCLT has approved the Corporate Insolvency Proceeding against Oyo Hotels and Homes Private Limited (OHHPL), a subsidiary of Oyo Group. An order from the National Company Law Tribunal stated that OHHPL creators have been asked to submit their claims to the interim resolution professional before April 15.

Challenge the case

At the same time, rumors of the company’s bankruptcy arose after a copy of this order went viral on social media. On this matter, Ritesh Agarwal has said that this payment has already been made on behalf of Oyo. At the same time, Oyo has reached NCLAT against this order and challenged the case.

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