India: NCLT initiates insolvency proceedings against Oyo subsidiary

India: NCLT initiates insolvency proceedings against Oyo subsidiary

Ritesh Agarwal. Photographer: Samyukta Lakshmi/Bloomberg

The National Company Law Tribunal (NCLT) has ordered a corporate insolvency resolution proceeding against hospitality unicorn OYO’s subsidiary, OYO Hotels and Homes Pvt. Ltd, over a dispute of ₹16 lakh. OYO said it had filed an appeal challenging the insolvency order.

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