OYO representative booked for cheating building owner

A representative of OYO apartment Investment Company faces a cheating case for terminating the agreement of a PG accommodation midway and failing to pay the owner for the damages to the building.

Lalith Kumar (38), who owns a 27-room, four-storied building in Agrahara Dasarahalli on Magadi Road, stated in his complaint that he has been running a ladies’ hostel in the name 'MY Home' from January 2017.

In November 2018, Karan Sharan, representing OYO Apartment Investment LLP, offered to take over the ladies’ hostel and running it under the name OYO Life.

Kumar and Prakash Hemaraj entered into an agreement with Sharan stating that OYO Apartment Investment should pay him Rs 2.45 lakh a month from January 1, 2019 to January 1, 2022.

Kumar accused the company of paying rent for just two months. While it was supposed to issue termination notice a couple of months ago, it gave the notice on February 11. Kumar later visited the building and found damages to the rooms and pending electricity bills.

He said the company owes him 23 months’ rent, which, in addition to taxes and damages, amounts to Rs 65 lakh.

Magadi police booked Sharan for cheating.

An OYO spokesperson reacted to the case by saying that the company is currently going through the details. “OYO is committed to support law enforcement authorities in their investigation,” the spokesperson said.

Reiterating that OYO is a law abiding corporate citizen, the spokesperson added that the company’s operations are focused towards the best interest of asset owners, customers and employees. “We are committed to engaging with all stakeholders towards resolving any concerns,” the spokesperson said.