38.6c New Delhi, India, Friday, August 19, 2022
Top Stories
Interviews Know The Law Book Reviews Videos
About Us Contact Us
Business

Zostel Vs. Oyo Case Adjourned To 7th October By Delhi High Court

By ANUSHKA BHATNAGAR      Oct 02, 2021      0 Comments      4,019 Views

On 29th September 2021, Delhi High Court has adjourned the case of Zostel (Zo Rooms) and OYO to a later date.

BACKGROUND

The legal battle between OYO and Zostel has been going on for the last three years since the agreements of merger broke down. 

The case has been filed as a result of OYO challenging the arbitration award as well as the petition filed by Zostel for executing the award. 

APPLICATION BY ZOSTEL 

Zostel is a chain of backpacker hostels that has appealed in the Court seeking interim relief in order to prevent any kind of change in shareholding, including via an IPO (Initial Public Offering) 

OYO’S PLEA 

OYO has filed the plea against the arbitration award which was decided during arbitration between OYO and Zostel. In the response, Zostel is against the challenge filed by OYO to the arbitration award. 

On 28th September 2021, OYO in a blog held that Zostel is misrepresenting facts 

Furthermore, the Co-founder of Zostel held that they are also opposing any attempt made by OYO for changing the shareholding structure along with their contention against the arbitration award. 

PRESENT SCENARIO

The Delhi High Court has fixed the next date for the hearing of the case as October 7,2021.



Tags:
OYO RoomsZostelOYO
Share this article:



Leave a feedback about this




Related Posts
View All

TRENDING NEWS


TOP STORIES


ADVERTISEMENT


Lawstreet Advertisement

Signup for Our Newsletter

Get Exclusive access to members only content by email