Oyo-NCLT case: Hotelier to withdraw insolvency plea against Oyo unit

Rakesh K Yadav says he got Rs 16 lakh as part of settlement

Gurugram-based hotelier Rakesh K Yadav, who filed a plea with the The National Company Law Tribunal against a unit of hospitality firm Oyo, has withdrawn the case after resolving issues with the company.

“After open discussion with teams from Oyo and its subsidiaries, I fully withdraw the case and confirm that all issues are resolved. I also acknowledge the receipt of Rs 16 lakh under the MSA  (master service agreement) with MTH. I have observed in my interactions that Oyo and its employees are always committed to professional conduct and business practices.  I am thankful for Oyo's innovative business model