Zostel, the backpacker hostels chain which was embroiled in a legal battle with Oyo for the last three years after merger talks broke down, claimed Sunday that it has won against Oravel Stays, which owns and operates hotel chain Oyo. Oyo however, refuted the claim. Hon’ble tribunal held that the term sheet between Zostel and OYO was a binding agreement. The order stated that OYO breached the term sheet by not executing definitive documents due to Oyo’s internal issue. The tribunal recognised that the transaction was consummated as ZO Rooms transferred the entire business in 2016, said Zostel in a statement.
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Although the Oyo-Zo Rooms deal failed to fructify, the arbitrator said claimant Zo Rooms parent, Zostel Hospitality, was entitled to claim relief in the form of allotment of shares from the respondent, Oyo parent Oravel Stays. The order also said Zo Rooms was entitled to claim costs of its case.
“The claimant cannot be held responsible for the acts and omissions of the respondent and/or its shareholders, by virtue of which some of the obligations could not be fulfilled by the claimant. This tribunal has held that claimant no. 1 is entitled to claim/pray for the relief of allotment of shares from the respondent to claimant nos. 2 to 17,” read the order.
Vikram Sachora has had a fascinating adolescence. He was never enamored with concentrates so he dumped formal instruction out of his arrangements. The possibility of Oravel Stays struck him when he was 16. He is a capable Social Media Manager in Rajasthan and he is overseen numerous well known famous people and Politicians computerized media. he is well kno
Close to USD 18 billion that Reliance Jio and Reliance Retail mopped up from a slew of private equity transactions in 2020 has pushed up the money inflows through this route by 108 per cent to USD 33.8 billion, according to an industry report. As per the data collated by Refinitiv, private equity investments increased 108 per cent in 2020 over the previous year, with the number of deals jumping from 665 in 2019 to 791 in 2020 at USD 33.8 billion, despite the pandemic. In 2019, total PE deals stood at USD 16.2 billion. Most of the fund inflows were in the third quarter, fetching USD 24 billion, which, however, tapered off in Q4 to just about USD 4.57 billion, as per the data from the agency that tracks financial transactions at a global level.
Photo by John Guccione
Close to USD 18 billion that Reliance Jio and Reliance Retail mopped up from a slew of private equity transactions in 2020 has pushed up the money inflows through this route by 108 per cent to USD 33.8 billion, according to an industry report.
As per the data collated by Refinitiv, private equity investments increased 108 per cent in 2020 over the previous year, with the number of deals jumping from 665 in 2019 to 791 in 2020 at USD 33.8 billion, despite the pandemic. In 2019, total PE deals stood at USD 16.2 billion.
Most of the fund inflows were in the third quarter, fetching USD 24 billion, which, however, tapered off in Q4 to just about USD 4.57 billion, as per the data from the agency that tracks financial transactions at a global level.