Delhi HC Sets Aside Arbitration Tribunal’s Ruling

Justice Sachin Datta ruled in a favour of a plea filed by OYO under Section 34 of the Arbitration and Conciliation Act, 1996, challenging the tribunal’s award

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

The case originated in November 2015 when OYO signed an exploratory non-binding term sheet with Zostel to potentially acquire their business, which failed to materialise by 2017

The Delhi High Court has set aside an arbitration…