![[Zostel v. OYO] Term Sheet promising transfer of 7 percent OYO shareholding to ZO Rooms is binding: Arbitral Tribunal](http://media.assettype.com/barandbench%2Fimport%2F2019%2F02%2FOyo.jpg?w=480&auto=format%2Ccompress&fit=max)
An Arbitral Tribunal recently ruled that Oravels Stays Pvt. Ltd (parent company of OYO) acted in breach of a binding agreement after its acquisition of rival Zostel Hospitality (which owns ZO Rooms), whereby it had agreed to transfer 7 percent of OYO to ZO Rooms' shareholders.