Delhi High Court dismisses Zostel Hospitality petition against PRISM again
Business
The Delhi High Court has once again dismissed Zostel Hospitality's petition against PRISM, the parent company of Oyo. This marks Zostel's ninth failed attempt in its ongoing legal fight.
Zostel's counsel clarified that the company was not trying to block PRISM's IPO, just looking to protect what it believes are its rights.
Dispute dates to 2018 non-binding agreement
This dispute goes back to a 2018 non-binding agreement for a possible acquisition. Zostel says it held up its end and PRISM didn't follow through, but PRISM insists the deal was never final.
Last year, the court also set aside an earlier decision favoring Zostel, saying it didn't fit contract law or public policy.