India: NCLAT allows withdrawal of insolvency case against OYO’s subsidiary

The logo of OYO, India’s largest and fastest-growing hotel chain, installed on a hotel building is seen through wires in an alley in New Delhi, India, September 25, 2018. REUTERS/Anushree Fadnavis

The National Company Law Appellate Tribunal (NCLAT) has allowed the withdrawal of the ongoing insolvency case against its subsidiary OYO Hotels and Homes Private Ltd.(OHHPL), and in effect closing the proceedings against the company.

OYO in a statement said that it will continue to work closely with its hotel partners for the closure of any pending claims.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter