Oyo Challenges Tribunal's Insolvency Proceedings Against Its Subsidiary Unit

National Company Law Tribunal has initiated insolvency proceedings against a subsidiary of Softbank-backed hospitality startup Oyo, a public notice showed on Tuesday, a decision the company said it had challenged. Oyo is one of SoftBank's biggest bets and the Japanese group has poured more than $1 billion into the company, in which it owns a 46 per cent stake. The National Company Law Tribunal (NCLT) notice said it was appointing a r...