OYO is on the verge of Bankruptcy

Entrepreneurship
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The growing infection of the coronavirus in the country and the gradual improvement in the country are affecting the economy. The OYO company is now on the verge of bankruptcy. The company filed for bankruptcy under IBC 2016.

NCLT has ordered the corporate insolvency resolution process of OYO Hotels and Homes Private Limited.

After going viral, people on social media are fiercely speaking out against such capitalists. Let us tell you that with the introduction of Corona, Oyo has laid off a large amount of its workforce. This retrenchment has been done worldwide. The company was constantly mentioning that the company’s focus is on growth. During this period, thousands of employees were sent from time to time on forced leave or they were forcibly shown the way out. This company, which has made big claims, has now applied to declare itself bankrupt.

It is also stated that “On or before April 15, 2021, creditors of Messrs Oyo Hotels and Homes Pvt Ltd are asked to present their claims with proof to the Interim Resolution Professional at the address mentioned against Entry Number 10 is.”

It states that “Financial creditors will submit their claims only through electronic means with proof. All other transactions can be submitted in person, post or electronically, along with the claims. ”


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