Live Breaking News & Updates on Zostal Hospitality

Oravel Stays Pvt Ltd, which runs OYO hotel chain, has said it will vehemently oppose any move to make it execute the definitive agreement for its disputed acquisition of Zostel Hospitality.
The statement has come after an arbitration panel allowed Zostal Hospitality to initiate appropriate proceedings to claim 7 per cent stake in Oravel Stays Pvt Ltd for its shareholders under the term sheet of a merger agreement.
Zostel Hospitality (ZO Rooms) had taken OYO to the court claiming that it completed its obligation under a merger agreement signed in November 2015 and transferred its business to OYO but the latter failed to transfer 7 per cent stake to its shareholders. ....

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