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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.
‘Migrated Gas’ extraction by Reliance Industries violated Public Trust Doctrine; Delhi High Court sets aside arbitral award
RIL has extracted the ‘Migrated Gas’, however, the said extraction/ exploration of the ‘Migrated Gas’ without any ‘explicit and express permission’ cannot be said to have been in ‘most efficient manner for betterment of the Union’, which did not belong to it and which did not entitle them to reaping any profits therefrom.