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Criminal Conspiracy and Fraud Complaint against OYO Founder

By Upendra Malaviya      Sep 17, 2020      0 Comments
Criminal Conspiracy and Fraud Complaint against OYO Founder

A Chandigarh based businessman filed a complaint against Mr. Ritesh Agarwal young founder and CEO of OYO Hotels and Homes Private Limited and against Sandeep Lodha, the CEO of OHHPL’s brand Weddingz.in, for alleged “Fraud and Criminal Conspiracy” which was further refuted by OYO for its management and leadership.

The complaint was filled by Vikas Gupta Chandigarh based businessman at DeraBassi Police Station at Mohali district. As per the complaint, OYO’s top management has indulged in fraud and wriggled out a business agreement “illegally and with criminal intent”. SSP of DeraBassai marked a complaint to SP Mohali who after an investigation recommended that a FIR be registered in the matter. 

In a press conference on Monday, Gupta madeit clear that representative of weddingz.in at Chandigarh came into his contact in June last year and expressed interest in running the business of his banquet hall in exchange for fixed monthly payment. 

He also told that the agreement was signed after all the necessary requirements of documents and No- objection Certificate asked by OHHPL were submitted which were later ratified by the finance and legal teams of the company. According to him, everything was moving fluently until the pandemic struck and public gathering was prohibited by the government. 

He further alleged that in order to save the losses, “OHHPL hatched a premeditated conspiracy, and in contravention of the stated terms of the signed agreements, sent a notice to banquet hall owner on March 16, 2020, asking him to re-submit NOCs and other documents. They gave a 15-day deadline to comply, whereas the agreement stated at least 30 days of notice is necessary if any party wants to nullify the agreement”. 

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