Yes Bank barred from making payments: Hyatt Residency Mumbai owner after shutting operations
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Asian Hotels (West), owner of Hyatt Regency Mumbai, whose operations have been suspended, on Tuesday said Yes Bank has barred it from making payments from an escrow account following a loan default. In a regulatory filing, Asian Hotels (West) said the company on April 28, 2021, defaulted on a loan repayment to Yes Bank due to the massive effect of COVID-19 pandemic on the company and the entire hotel industry.