New Delhi: Big relief for OYO subsidiary-OHHPL after the National Company Law Appellate Tribunal (NCLAT) has now admitted OYO’s plea and ordered a stay against the formation of committee of creditors (COC). This comes after OHHPL appealed the order in front of NCLAT and explained that a demand draft of INR 16L was issued to the claimant under protest and the claimant has willingly banked the DD. I am so grateful to everyone for their support on social media since yesterday. Thank you for discouraging misleading news and forwarded msgs. https://t.co/GEx64GzWVf — Ritesh Agarwal (@riteshagar) April 8, 2021 Taking to Twitter the company Founder and CEO Ritesh Agarwal said, "Today NCLAT has admitted our plea and ordered a stay for the formation of COC in IBC proceedings against OHHPL, an OYO subsidiary. The claimant has already drawn the INR 16 Lakhs which we paid under protest. " Closing @riteshagar's thread from yesterday - Today NCLAT has admitted our plea and ordered a stay for the formation of COC in IBC proceedings against OHHPL, an OYO subsidiary. The claimant has already drawn the INR 16 Lakhs which we paid under protest. pic.twitter.com/hNkevbWbWs — OYO (@oyorooms) April 8, 2021 “The NCLAT provided a stay for the formation of COC in IBC proceedings against OHHPL, subsidiary of OYO. OHHPL appealed the order in front of NCLAT and explained that a demand draft of INR 16L was issued to the claimant under protest and the claimant has willingly banked the DD,” OYO said in a statement. The company Founder and CEO Ritesh Agarwal had refuted the reports about filing bankruptcy on Wednesday.