OYO CEO Ritesh Agarwal booked on cheating charge

OYO CEO Ritesh Agarwal booked on cheating charge

Bengaluru police have booked the CEO and founder of Oyo Hotels and Homes Ritesh Agarwal and two of his representatives for cheating and criminal breach of trust following a businessman's complaint.

In his complaint, Natarajan V R S, an ex-serviceman, stated that he runs the Rajguru Shelter Hotels in BEML Layout in Whitefield.

He entered into an agreement with Ritesh Agarwal on June 2017, where Oyo would give them reservations and take 20% of the share and give him 80%. But Agarwal and his representatives in Bengaluru, Anand Reddy and Prathik Singh had taken 80% of the share instead of 20%. He accused the trio of cheating him of more than Rs 1 crore.

The Whitefield police booked the trio, including Agarwal, under IPC Section 406 (criminal breach of trust) and 420 (cheating).

Natarajan told DH that many hotels in Bengaluru had similar problems with Oyo.

Oyo India's spokesperson in Delhi sought a day’s time to respond to DH's query.