The root of the dispute between IPO bound Oyo and Zostel lies in a failed buyout deal 6 years ago, which Zostel claims was binding on Oyo.
Oyo IPO: In a breather to IPO-bound Oyo, the Delhi High Court rejected Zostel's plea claiming 7% shareholding in Oyo.
The Softbank-backed Oyo has been in a legal tussle with Zo Rooms after the latter filed a case in the Delhi HC last year to restrain Oyo from going for a listing. The root of the dispute between the two parties lies in a failed buyout deal 6 years ago, which Zostel claims was binding on Oyo.
Other than transfering 7% shareholding to an escrow account...read more