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According to the police, whether he committed suicide or fell from the 20th floor accidentally will be known after a detailed investigation.
The police initiated the drive following a tip-off that OYO rooms, booked online, were being used rampantly for drug deals. “People check into these rooms for just one or two hours for facilitating drug deals. We conducted the raids based on information that hotel rooms were being widely used for drug deals,” the DCP said.
Zostel filed a petition in August with the Delhi High Court to stop Oyo from changing its shareholder structure, including through an IPO.
The proposed initial public offer (IPO) plan of the hospitality firm follows the spectacular success of Zomato's IPO that ended with a bumper oversubscription on July 16 and was the biggest since March 2020.
The deal could be announced in the coming weeks and would be a prelude to an initial public offering (IPO) by Oyo.
OYO has also taken steps to provide support to frontline medical staff, aircrew, corporates, tourists, paying guests, among others who need accommodation.