New Delhi, November 20, 2019: A First Information Report (FIR) has been filed against OYO’s CEO Ritesh Agarwal, along with six other employees of OYO under several sections of the Indian Penal Code, including alleged criminal breach of trust, and fraud by a Bangalore-based hotelier on Monday. Oyo denied all allegations and said that “the appropriate criminal proceedings against the Bengaluru owner who is sensationalising a civil dispute to attract attention according to report published in www.thehindubusinessline.com
According to the contents of the FIR reviewed by BusinessLine, the complainant, Betz Fernandes, owner of Roxel Inn Hotel in Bengaluru had entered into an agreement with OYO in order to facilitate the booking of rooms through the OYO platform. As per the agreement, OYO has to pay the company Rs 7,00,000 on a monthly basis as minimum guarantee. However, since May, no amount has been paid at all. The amount outstanding as of today is Rs 35,00,000 which has not been paid to the company.
Along with Agarwal, the FIR named other senior executives at OYO who have been asked to appear before the Sub-Inspector of Police on November 7.
“Our lawyers are looking into the matter and will be taking strong legal action as these claims are incorrect and defamatory in nature.OYO Hotels & Homes will initiate appropriate criminal proceedings against the Bengaluru owner who is sensationalising a civil dispute to attract attention,” it added.
