NEW DELHI: Hotel booking platform OYO has requested the National Company Law Tribunal (NCLT) to expedite the Ministry of Corporate Affairs’ (MCA) investigation on the functioning of hotel and restaurant body Federation of Hotel & Restaurant Associations of India (FHRAI).
OYO has pointed out that the present governing body members of the FHRAI are running a “deleterious and malicious agenda”, aimed towards ruining the interest of hotel industry at large, and creating hurdles and bottlenecks for new players in the market, who are posing a stiff challenge to the self-serving agenda of certain members of the FHRAI with vested interest.
“It does not augur well for the business environment of our country when prominent start-ups, being universally acclaimed for their drive and innovation are the subject of such concerted and intimidatory tactics launched by the present committee of FHRAI, across multiple forums with the sole malicious intent to harm the hotel industry of the country, whose interest such organisations espouse,” said OYO, in its letter to NCLT.
Recently the NCLT’s Principal Bench, New Delhi, passed an order where it directed MCA to look into the affairs of FHRAI and examine if it conducts itself in a manner compliant with the provisions of Companies Act. Oyo and FHRAI have been at loggerhead for quite some time now. When contacted, FHRAI didn’t respond to today’s development.