NCLAT withdraws insolvency case against Oyo subsidiary

New Delhi

The order concludes the insolvency proceedings against the company. It disallowed the intervention of external parties, including FHRAI. Oyo said it will continue to work closely with its hotel partners for the closure of any pending claims. Rohit Kapoor, CEO, Oyo’s India & S East Asia operations, said, “We had already settled with the original claimant but subsequent interveners with vested interests who were not a party to the case had delayed its closure.”