NCLAT stays insolvency proceedings against OYO

NCLAT stays insolvency proceedings against OYO

OYO explained to the NCLAT that a demand draft of Rs 16 lakh was issued to the claimant under protest and the claimant has willingly ‘banked’ the demand draft. In a relief for OYO, the National Company Law Appellate Tribunal (NCLAT) on Thursday stayed the formation of a committee of creditors (CoC) in insolvency proceedings against the firm’s subsidiary OYO Hotels and Homes (OHHPL).

Read more at 
The Financial Express

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