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Zo Rooms Entitled to 7% Shareholding In $9 bln Valued-Oyo, Arbitral Tribunal Holds


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An award by an arbitral tribunal in a tussle between Oravel Stays Pvt Ltd (Oyo) and start-up Zostel Hospitality Pvt Ltd (Zostel), holding that Zo Rooms is entitled to allotment of 7% shareholding in Oyo, could open the doors to what Zostel is touting as the biggest exit in the Indian startup eco-system .
The award was passed in a 3-year old arbitration dispute between the two hospitality giants, following a merger agreement based on a Term Sheet in 2015. Zostel and Oyo had entered into what Zostel claimed to be a binding agreement, and Oyo claimed to be a non-binding agreement of exploratory nature in November 2015, under which Zostel claimed to have completed its obligations and transferred the business to Oyo. ....

Zostel Hospitality Pvt Ltd , Supreme Court , Oravel Stays Pvt Ltd Oyo , Oravel Stays Pvt Ltd , Chief Justice , Definitive Documents , Term Sheet , Venture Nursery , ஜொஸ்தேல் விருந்தோம்பல் பிரைவேட் லிமிடெட் , உச்ச நீதிமன்றம் , ஓரகவேல் தங்குகிறது பிரைவேட் லிமிடெட் ஓயோ , ஓரகவேல் தங்குகிறது பிரைவேட் லிமிடெட் , தலைமை நீதி , உறுதியான ஆவணங்கள் , கால தாள் , துணிகர நாற்றங்கால் ,