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NCLAT orders stay in insolvency plea against OYO subsidiary

Shortpedia

Content Team
Image Credit: shortpedia

The National Company Law Tribunal (NCLT) ordered a stay on further proceedings against hospitality giant OYO’s subsidiary in an insolvency plea filed by a creditor earlier this month. An insolvency plea was filed against OYO Hotels & Homes Private Limited (OHHPL) on April 1 by Conclave Infratech, which operates a chain of hotels in Hyderabad.