Oyo founder booked for fraud, company refutes charges

An FIR has been registered against Ritesh Agarwal, founder and CEO of Oyo Hotels and Homes Private Limited (OHHPL), and Sandeep Lodha, CEO of OHHPL’s brand Weddingz.in, for alleged fraud and conspiracy.

An Oyo spokesperson, however, refuted the charges against the company.

The case was registered by the Dera Bassi police last week after Chandigarh businessman Vikas Gupta alleged that the OHHPL top management wriggled out of an agreement with him illegally and with criminal intent.

The agreement was signed in 2019 with Gupta’s Manimajra-based company, Vikas Mineral Foods Limited (VMFL), which runs the marriage palace Casa Villaz Resorts in Dera Bassi.