• Chethan Machaknur

HC’s OYO order may impact other startup’s to default

Delhi High Court's recent order which directs Oyo Hotels & Homes to register details of all debt-free assets in order to pay off creditors will set a significant precedent for startups who default in meeting minimum business guarantee payments to vendors, lawyers and policy experts said.

High court was hearing a plea by hospitality firm Anam Datsec Pvt Ltd which sought damages worth ₹8 crore from Oyo for alleged non-payment of dues.

Co-living startup Nestaway, vehicle rental startups like Drivezy, Zoomcar also facing similar allegations on non-payment of dues to vendors.

  • Amazon Social Icon
  • Facebook Social Icon
  • LinkedIn Social Icon
  • Twitter Social Icon
  • Instagram

© 2020 by StartupNews. Proudly created in India