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...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.