OYO says creditors have ‘No Grounds’ to claim disputes of INR 250 Cr in ongoing insolvency plea  

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Almost 2 months after one of OYO’s subsidiary unit OYO Hotels and Homes Private Limited (OHHPL) was dragged to tribunal court under the bankruptcy and insolvency code, multiple creditors have filed claims amounting to INR 250 Cr.OYO in a statement on Saturday OYO said that it “vehemently denies” all the unverified claims being made in the ongoing insolvency resolution process with the NCLAT. Currently, the NCLAT matter is adjourned to July 02, 2021,Inc42 reported.

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“The company would like to clarify that the recent hearing on June 02, primarily included procedural follow-ups of the previous hearing. As before, the interveners have now been asked to file applications. It is important to understand that their applications will be heard and decided subsequent to OYO’s submissions. Meanwhile, the stay on the formation of the committee of creditors continues,” OYO added in its statement.

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