04th September 2023
The Managing Directors/CEO's/Owners/Director/Partners/General Managers
All FHRAI Members
CC: All Members of the Executive Committee
All Regional Associations
The President
SUB: REQUEST FOR DETAILS ON PENDING ISSUES WITH OYO
As you are aware, OYO has been responsible for the systemic depredation of the budget hotels in the country causing serious distress to thousands of hotels and its patrons. The unscrupulous business practices of OYO have annihilated the livelihood, investments and entrepreneurial initiatives of thousands of hoteliers from the mid and lower segments.
FHRAI has been fighting tooth and nail against the arbitrary and unethical business tactics of OYO, for the last many years. An appeal filed by FHRAI against OYO is pending before the Supreme Court of India on this matter and another appeal is pending before the NCLAT. FHRAI also written many representations to SEBI, requesting to reject OYO’s draft Red Herring Prospectus (DRHP) for an initial public offering.
Taking these efforts forward, FHRAI is desirous to make further moves to resolve the long pending issues of our members with OYO and we once again seek the support and co-operation of our members. We therefore request our members to provide the following information to enable us to take the necessary steps in this regard:
- Details of members who have dispute with OYO.
- Outstanding amount receivable by the members from OYO
- Documents supporting their claim amount receivable from OYO
- Copy of last correspondence between the member and OYO
You are requested to share the above-said information to asg@fhrai.com by Saturday, 9th September 2023.
With best regards,
Jaison Chacko
Secretary General
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The Federation of Hotel & Restaurant Associations of India
Regd. Off. : B-82, 8th Floor, Himalaya House, 23, K G Marg, New Delhi - 110 001
Tel.: 011-40780780, Email: fhrai@fhrai.com, Web.: www.fhrai.com