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OYO v. Zostel: Delhi High Court  In a major development in the ongoing legal battle between hospitality giants OYO and Zostel, the Delhi High Court has set aside the arbitral award that was previously passed in favor of Zostel. The Court held that the award was in violation of the public policy of India, giving a fresh twist to the long-standing merger dispute. Fact  of the Dispute: The origins of the case go back to 2018 when Zostel Hospitality (which operates the ZO Rooms brand) claimed that OYO had agreed to acquire its business, including assets and employees, in exchange for a 7% stake in OYO’s parent company, Oravel Stays Pvt. Ltd. Zostel alleged that the agreement was finalized in a Term Sheet and that they had completed their part of the deal. However, OYO later backed out, stating that the transaction was never legally concluded, as the final definitive agreements were not signed. This led to arbitration between the two parties. In 2021, the arbitral ...