Oyo says Delhi HC sets aside arbitral award and dismisses execution petition by Zostel

The Delhi High Court has overturned an arbitral award against Oyo in its dispute with Zostel Hospitality, stating Oyo did not breach any agreement during acquisition discussions. The court supported Oyo's claim that no part of Zostel's business was transferred and dismissed Zostel's execution petition. This ruling validates Oyo's stance that no binding agreement was ever finalized between the parties.