Court rules against Ofo founder

Dai Wei, founder of Ofo, one of the country's largest bike-sharing companies, has been issued with consumption restrictions by a court in Beijing.

The company has been under the spotlight having been shown to be experiencing economic difficulties.

Thousands of people this week met at Ofo's headquarters in Beijing, demanding to have their deposits returned.

As of Thursday, more than 10 million people have applied to get their deposits back on the of Ofo app.

According to one of the ruling files publicized by the Haidian People's Court in Beijing, Dai Wei has been prohibited from any high-end consumptions and non-necessities of life and work, because he and his company failed to pay debts to a logistic company in Hangzhou, Zhejiang province.

The items include first-class seats on a range of modes of transport, luxury hotels, real estate, renting high-end office buildings, and seats on bullet trains.