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NCLAT stays CCI's ₹169 cr penalty on Oyo | Mint
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NCLAT stays CCI's ₹169 cr penalty on Oyo | Mint
05 November 2024
The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed a penalty of ₹169 crore penalty imposed on Oravel Stays Ltd by the Competition Commission of India (CCI). Oravel Stays Ltd operates under the brand name Oyo. The NCLT bench, while admitting the appeal filed by Oyo directed it to deposit of 10 per cent of the penalty amount within six weeks.
The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed a penalty of ₹169 crore penalty imposed on Oravel Stays Ltd by the Competition Commission of India (CCI). Oravel Stays Ltd operates under the brand name Oyo. The NCLT bench, while admitting the appeal filed by Oyo directed it to deposit of 10 per cent of the penalty amount within six weeks.
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