NCLAT: Notice Issued In Appeal Filled By OYO Subject To Depositing 10% Of Penalty Amount

The National Company Law Appellate Tribunal (NCLAT) in the case Oravel Stays Ltd.v. CCI & Ors., Competition App, the bench comprising of Justice Rakesh Kumar and Dr. Ashok Kumar Mishra observed and has issued a notice in the appeal filed by Oravel Stays Ltd (“Oyo”) against the order of Competition Commission of India wherein a penalty of INR 168.88 Crores on OYO imposed by the CCI.
A notice has been issued by NCLAT on the appeal filed by OYO which is subject to the condition of depositing 10% of the penalty amount and has directed that the 10% of the penalty amount must be deposited within a period of six weeks. A penalty on OYO has been imposed by the CCI because MMT-Go and OYO entered into confidential commercial agreements wherein has agreed MMT-Go to give preferential treatment to OYO on its platform, which is leading to a denial of market access to Treebo and Fab Hotels.
Accordingly, the court listed the matter is now posted for hearing on 11.04.2023.