Mumbai, July 1 (IANS) Prism, the parent company of OYO, has flagged its ongoing legal battle with Zostel as a key risk in its draft red herring prospectus (DRHP) filed ahead of its proposed initial public offering (IPO).In the DRHP, the company said that any adverse outcome in the legal proceedings involving Zostel may materially and adversely affect its business, reputation, prospects, results of operations and financial condition.It also warned that an unfavorable final decision could result i…
Latest Arbitration and Conciliation Act News & Updates
Mumbai, June 30 (IANS) OYO-parent Prism Hotels and Resorts has highlighted significant business and legal risks in its updated draft red herring prospectus (DRHP), offering investors a closer look at challenges that extend beyond its improving financial performance ahead of its proposed initial public offering (IPO). The filing showed the hospitality company has become increasingly dependent on overseas markets, remains exposed to a long-running legal dispute with Zostel and attributes much of i…
New Delhi, May 19 (IANS) The Supreme Court on Tuesday allowed beleaguered low-cost airline SpiceJet and its Chairman Ajay Singh to approach the Delhi High Court for modification of a direction requiring a cash deposit of Rs. 144.51 crore in its long-running arbitration dispute with Kalanithi Maran and Kal Airways Private Limited. A bench of Justices P.S. Narasimha and Alok Aradhe disposed of the special leave petition (SLP) filed by SpiceJet and Ajay Singh, permitting them to approach the Delhi …
New Delhi, April 22 (IANS) The Delhi High Court recently granted interim relief to Amazon Prime Video and restrained Mohanlal’s production house, Aashirvad Cinemas, from entering into any agreement with third parties for the creation or exploitation of over-the-top (OTT) rights in the “Drishyam” film franchise. While hearing a petition filed by Amazon Seller Services Pvt Ltd under the Arbitration and Conciliation Act, a single-judge Bench of Justice Harish Vaidyanathan Shankar held tha…