OYO v Zostel | Delhi High Court sets aside Arbitral Award citing public policy violation and non-adjudication of core claims on unenforceable Term Sheet
The core dispute between OYO and Zostel arose from a Term Sheet dated 26-11-2015, which proposed OYO’s acquisition of Zostel’s business. While Zostel claimed to have fulfilled its obligations and sought specific performance, OYO argued the Term Sheet was non-binding and lacked enforceable terms.