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(viii) Zostel attempted to close the transaction even in October 2017, after the transfer of its hotel business to Oravel in January 2016.

18.3.2 Finding merit in the submissions of Zostel, the learned Arbitrator held that Zostel was ready and willing to perform its obligations under the Term Sheet and execute the draft Definitive Documents.

21. Floating of the IPO by Oravel, submits Mr. Sibal, would irreversibly render execution of the Award an impossibility, as the 5 34. Decree for execution of document, or endorsement of negotiable instrument. -

(1) Where a decree is for the execution of a document or for the endorsement of a negotiable instrument and the judgment-debtor neglects or refuses to obey the decree, the decree-holder may prepare a draft of the document or endorsement in accordance with the terms of the decree and deliver the same to the Court.