India, May 14 -- The Delhi High Court has set aside an arbitration tribunal's ruling in an ongoing dispute over a failed merger between hospitality major OYO and rival Zostel Hospitality.

In a statement, OYO said that the HC ruled in its favour as it did not act in breach of an agreement following acquisition discussions with Zostel.

As per a report by Bar and Bench, Delhi HC's Justice Sachin Datta passed the order on a plea filed by OYO under Section 34 of the Arbitration and Conciliation Act, 1996, challenging the ruling.

Justice Datta said that the final order "will be uploaded in a couple of days after the typographical errors are rectified".

"The Delhi High Court's order substantiates OYO's position that no part of Zostel's busin...