NEW DELHI: The Delhi High Court has asked SoftBank-backed Oyo Hotels & Homes to file an affidavit in the court in two weeks on its unencumbered assets.The July 7 order came in a case filed by hospitality company Anam Datsec, which has accused Oyo of non-payment of dues for its Golden Sands property at Calangute in Goa and sought more than Rs 8 crore in damages.Anam Datsec claimed that Oyo had agreed to pay Rs 14 lakh a month as the minimum guaranteed amount when it entered into a management services agreement with the company for the property in 2018.It said Oyo did not also provide necessary and accurate revenue statements and carried out “substandard and hazardous construction” on the property.In a response to ET's queries, Oyo said the court had given it two weeks’ time to file its reply to the petition. “It is to be noted that no interim relief has been granted by the Delhi High Court to the petitioners,” an Oyo spokesperson said. ET has seen a copy of the order asking Oyo to file the affidavit of assets as of July 7. The matter has now been listed for August 20.
Thursday, July 9, 2020
Oyo gets two weeks to disclose debt-free assets | Economic Times
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