OYO vehemently denies unverified claims being made regarding the ongoing insolvency resolution process with the Hon’ble National Company Law Appellate Tribunal (NCLAT). Currently, the matter stands adjourned to July 02, 2021.

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 maintains its stand as before, that by the law, the interveners have no locus in this matter and their disputed claims are not grounds for intervention. The company further denies the unverified and baseless rumors being made around the monetary claims involved in the matter.

As the matter remains sub-judice we will not be able to share further information at this point in time.