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India Hotel Startup Oyo CEO Agarwal Denies Bankruptcy Reports

Ritesh Agarwal

Photographer: Tomohiro Ohsumi/Getty Images

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…

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