Oyo denies seeking bankruptcy after $22,000 claim

Oyo Hotels founder Ritesh Agarwal took to Twitter to reject reports the lodging and vacation home rental startup has filed for bankruptcy after a supplier’s $22,000 claim.

The entrepreneur tweeted Wednesday his company had initially disputed an unidentified supplier’s claim for 16 lakh rupees or about $22,000, but eventually paid “under protest.” Agarwal, also Oyo’s chief executive officer, was responding to a document widely circulated on social media he said appeared to show his startup had sought bankruptcy protection, which he called “absolutely untrue.”

Oyo has declined to comment further on a legal matter, according to a statement he retweeted.