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Zostel Drops Urgent Plea Against OYO In Delhi HC; Parent Company Slams 'Frivolous' Litigation
['Sukriti Mishra']
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Dispute dates back to proposed 2015 OYO Zostel acquisitionThe dispute between the parties dates back to 2015, when OYO had proposed acquiring Zostel's business.
The dispute has resulted in multiple proceedings before various courts and forums, including the Delhi High Court and the Supreme Court.
Zostel raises objections over PRISM IPO disclosuresThe latest proceedings arose after Zostel approached SEBI seeking scrutiny of PRISM's IPO disclosures.
"The Delhi High Court has today dismissed as withdrawn yet another application filed by Zostel.
Zostel also said it would continue to monitor PRISM's proposed IPO and take steps to protect its rights and the interests of investors.