Zostel Hospitality (ZO Rooms) has filed a case in a Gurugram court against OYO parent Oravel Stays Pvt., alleging that OYO stole a host of ZO Rooms's data such as employees, assets, hotel properties, etc. while conducting due diligence in a process of acquisition, which eventually did not happen, reports The Economic Times. According to the report, ZO Rooms has alleged in its petition that OYO obtained certain confidential information, and "in fact acquired the entire business of the petitioner (ZO Rooms) and is now refusing to pay the dues owed to the petitioner". Note that In 2015, OYO was exploring acquisition of ZO Rooms, and rather we had confirmation from SoftBank on that, but later OYO called it off. In its latest petition, ZO Rooms has said that OYO has caused irreparable harm to the company, as it delayed and then refused to buy out the company, and that OYO is solely liable to compensate. ZO Rooms wants the court to order OYO to deposit the revenue earned from the hotels that were acquired from ZO Rooms, and prevent OYO from diluting any of these assets. It also wants the court to pass an order for search and seizure of OYO to retrieve ZO's stolen data and bar the company from using that data. The ET report also mentions that ZO wants the court to restrain OYO from raising any funds through equity that will change the status quo. However, on this matter, OYO shared a statement with MediaNama and said, ZO is actually blackmailing the…
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