ZREYAH SEMICONDUCTORS PVT. LTD. vs OYO HOTELS AND HOMES PVT. LTD.

Judgment text excerpt

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on: 19 January 2026 Judgment pronounced on: 2/2/26 + O.M.P. (COMM) 249/2023 & I.A. 14284/2025 ZREYAH SEMICONDUCTORS PVT. LTD. .....Petitioner Through: Mr. Ashish Dholakia, Sr. Adv. with Mr. Gautam Bajaj, Mr. Akash Panwar, Ms. Meghna Jandu, Mr. Lakshay Nagpal & Ms. Saumya, Advs. versus OYO HOTELS AND HOMES PVT. LTD. .....Respondent Through: Mr. Sumant Nayak, Mr. Ankit Premchandani & Ms. Smriti Shukla, Advs. CORAM: HON'BLE MR. JUSTICE AVNEESH JHINGAN JUDGMENT 1. M/s Zreyah Semiconductors Private Limited has filed the petition under Section 34 of the Arbitration and Conciliation Act, 1996 (for short „the Act‟) aggrieved of the arbitral award dated 03.04.2023. FACTS 2. The brief facts are that the petitioner is engaged in the business of manufacturing and supply of electronic components. The respondent is a Private Limited Company engaged in the business of managing hospitality establishments. The respondent placed a Signature Not Verified Signed By:HONEY O.M.P. (COMM) 249/2023 Page 1 of 15 ARORA Signing Date:02.02.2026 17:04:03 purchase order dated 26.09.2019 upon the petitioner (hereinafter „the PO‟) for supply of 52360 switches valuing Rs.10,34,89,540/-, inclusive of taxes. Subsequent to the placement of the PO, the parties entered into a vendor agreement dated 23.12.2019 (hereinafter „the VA‟). The PO though prior in time was governed by the terms and conditions of the VA. After the placement of the PO the respondent paid an advance of fifty percent of the invoice value. 2.1 Prior to the placing of the PO, the parties had business transactions wherein the petitioner was assembling switches for the respondent and the entire material was being supplied by the respondent. The scenario changed and pursuant to the