Arbitral Award Against OYO On Dispute With Zostel Flouts Public Policy: Delhi HC

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SUMMARY

Delhi HC said that 2021 arbitral award against OYO on dispute with Zostel violated public policy

The arbitral award was based on a term sheet that was not binding, said Delhi HC

Justice Sachin Datta passed order on May 13 in a petition filed by OYO under Section 34 of the Arbitration and Conciliation Act, 1996, challenging the arbitral award

The Delhi High Court has reportedly said that the arbitral award passed in 2021 against hospitality major OYO on its dispute with rival Zostel Hospitality violated public…



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Arbitral Award Against OYO On Dispute With Zostel Flouts Public Policy: Delhi HC


SUMMARY

Delhi HC said that 2021 arbitral award against OYO on dispute with Zostel violated public policy

The arbitral award was based on a term sheet that was not binding, said Delhi HC

Justice Sachin Datta passed order on May 13 in a petition filed by OYO under Section 34 of the Arbitration and Conciliation Act, 1996, challenging the arbitral award

The Delhi High Court has reportedly said that the arbitral award passed in 2021 against hospitality major OYO on its dispute with rival Zostel Hospitality violated public…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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