NCLAT closes insolvency proceedings against Oyo and its subsidiary – Business Standard

NCLAT has closed proceedings for insolvency of Oyo’s subsidiary Oyo Hotels and Homes Private Limited and allowed Oyo’s plea for setting aside the Insolvency and Bankruptcy Code case against OHHPL.

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NCLAT|Oyo|OYO Hotels & Homes

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 …

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