OYO files criminal complaint against Zostel for breach of trust, cheating

Was in talks to acquire Zo Rooms

SoftBank funded budget hospitality chain OYO has filed a criminal complaint against the founders of Zostel last month, alleging breach of trust, cheating and misinterpretation of data. OYO was in talks to acquire Zostel’s budget hotel business Zo Rooms since 2015 but later saw little value in the acquisition of this Tiger Global funded company.

OYO, the country’s biggest budget hospitality chain, has alleged that Zostel and its directors have been ‘continuously’ harassing the company for over a year.  “They've used every tactic, from sending letters carrying false allegations to OYO's management to writing to our shareholders, for intimidating and pressurizing