The National Company Law Appellate Tribunal (NCLAT) on Wednesday closed insolvency proceedings against Oyo and one of its subsidiaries, and also disallowed the intervention of external parties including Federation of Hotel & Restaurant Associations of India (FHRAI). Industry body FHRAI said in May it has been allowed by the NCLAT to intervene on behalf of hotels in the Oyo unit insolvency case before the tribunal. The association had filed the application on behalf of its member hotels in India, who it said at the time are operational creditors suffering hugely on account of non-payments of debt by Oyo.
The National Company Law Tribunal has directed to start insolvency proceedings against OYO Hotels and Homes Pvt Ltd on March 30, according to a public announcement by the interim resolution professional.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances