Mumbai based Noesis Capital Advisors, a hospitality advisory firm, has filed a winding-up petition against Oyo over payment delays.
As per the filing, OYO Rooms failed to pay Rs 1,50,39,575 to Noesis.
"OYO availed services of Noesis through an exclusive, noncompete contract. Mid-way through the term of the agreement, we found evidence that Noesis was in breach of agreement and terminated their services. We also sent them a legal notice to recover dues paid in good faith. That matter is presently sub-judice," [Via/ET]
2 Relevant Threads:
Is OYO Rooms the startup equivalent of a Ponzi scheme ?
Is it okay to name shame customers who do not pay on time ?