Zostel Oyo 7% stake dispute returns to Delhi High Court
Business
The long-running Zostel vs. Oyo drama is heading back to the Delhi High Court on August 12.
It all started with a 2015 deal where Zostel was supposed to get a 7% stake in Oyo, but things got messy: Oyo says the agreement was never fully settled, while Zostel insists part of it went through.
Zostel seeks interim relief in appeal
Recently, Zostel asked the court for interim relief to secure its claim until there is a final decision.
Oyo responded that it will follow a previous court order: if Zostel wins, Zostel will either get its shares or the cash equivalent.
The case has bounced around: an arbitrator once sided with Zostel, but the high court later overturned that because key terms were not finalized.
Now, Zostel is appealing and hoping for a different outcome this time.