Ritesh Agarwal, founder and group CEO of Oyo hit headlines when he decided to buy back shares from investors to double his holdings in the company to about 20 percent. Oyo is currently valued at USD 10 billion with Softbank as its biggest investor. But as Ritesh is busy taking the company global, Oyo is facing backlash from hotel owners in India. The FHRAI -- the hotel industry body had moved competition watchdog CCI with a series of complaints ranging from skewed contracts, denial of markets and predatory pricing. The CCI has now launched a probe into the conduct of MakeMyTrip and Oyo, for potential violations of the Competition Act. CNBC-TV18 spoke to Ritesh about the backlash, plans for IPO and Oyo's future.