IT Attack on OYO and The Lalit

Major players of the hospitality industry raided by the Income-tax Department in 2020. 

Paying Income tax adds to the growth of the country and avoiding it to hide your illegal income is like standing against your nation for your own selfish sake. Two major hotel brands of the hospitality industry are under the suspicion of the Income Tax Department with a similar crime. The beginning of 2020 has not been so happening for OYO and Bharat Hotels Group. 

Both the groups are invaded (or to be more clear raided) by the Income Tax Department for hiding their illegal money. However, never before this raid has these groups been declared bankrupt hence an explanation for this raid is still pending from Ritesh Agarwal, Founder and CEO, OYO and Jyotsna Suri, Chairperson & MD, Bharat Hotels Group. 

A New Year surprise landed in the Headquarters of OYO in Gurugram when it was raided by the IT Department. A few employees from the office were asked to go home. A board member even said that he was unaware of the situation. However, the officials of OYO have given a cover of ‘Routine TDS survey’ to this raid. The clouds of calamity were earlier also seen on OYO when it was planning to lay off 2000 employees but again covered it by naming it as a performance-based replacement. Indeed 2020 has brought a big blow on a seven-years-old startup with a visible soft bank. 

Another New Year bomb exploded in the premises of The Lalit Hotels when the IT Department raided it a few days back. Jyotsna Suri, Chairperson & MD, Bharat Hotels Group is accused of tax evasion and along with her, Jayant Nanda, promoter of Cargo Motors, an associate of Jyotsna Suri is also in the compass of the raid sickle of the IT department. Mr Keshav Suri was a major activist in the upliftment of the entire LGBTQ community with the removal of Article 377. The same nature was seen in Jyotsna Suri a few days back. It’s just contrary to her son, she is responsible for the downfall of Jayant Nanda. 

Source:  https://www.ndtv.com/india-news/tax-raids-at-8-premises-of-lalit-hotels-promoter-jyotsna-suri-associates-2166836   

https://www.businessinsider.in/business/startups/news/income-tax-raid-at-ritesh-agarwal-oyo-headquarters-in-gurugram/articleshow/73189283.cms

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