Trouble brews for OYO, company gets legal notice over payment delays

| Monday, June 13, 2016 - 15:37
First Published |
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Trouble brews for OYO, dragged to High Court

New Delhi: Budget hotel aggregator OYO Rooms has been dragged to the Delhi High Court by a Mumbai based hospitality advisory firm, Noesis Capital Advisors.
The case has been filed by the company over non-payment of over 1.5 crore rupees for using its services. The firm has filed a winding up petition against Oravel Stays, the company that owns OYO Rooms.
The hospitality advisory firm has reportedly claimed that the $400-million startup has failed to make the payment despite using their services during the scaling-up phase of the venture, in an ET news report.
One of the fastest booming startups in India, OYO Rooms had recently inked a deal with multi-service payment solutions company ItzCash. 
Founded by Ritesh Agarwal, OYO Rooms is currently operating in more than 170 Indian cities with over 5,500 hotel partners. The company has also recently launched operations in Malaysia.

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