Madras High Court grants bail to Stayzilla co-founder Yogendra Vasupal
- Author: Leroy Wright Apr 20, 2017,
Apr 20, 2017, 20:46
Stayzilla co-founder Yogendra Vasupal, popularly known as Yogi, has been granted bail today in Chennai, almost a month after he was arrested in a manner which provoked protest by India's biggest tech bosses.
The counsellors for Jigsaw had, during the hearing, raised questions over Vasupal's intentions to settle dues.
On March 15, travel startup firm Stayzilla's Vasupal was arrested by commissioner of police in Chennai and locked up in Puzhal prison.
Yogendra Vasupal, was arrested and sent to jail by the Chennai police commissioner after a case was filed against Vasupal by Jigsaw Advertising accusing him of fraud.
The Central Crime Branch sleuths had arrested Vasupal on a complaint from C S Aditya of Jigsaw Advertising and Solutions and booked him on charges of criminal breach of trust, intimidation and cheating. As per the complaint filed by Aditya, Vasupal had failed to pay Rs 1.69 crores for the services it had availed for advertising in February 2016. The case relates to a dispute between two businessmen by S Baskaran, the Judge.
After the Chennai Magistrate Court, the Principal Sessions Court has turned down the bail plea of Yogendra Vasupal, co-founder of the now-defunct homestay startup Stayzilla, . As per media reports, last a bail application was submitted by Vasupal's advocate to the Madras High Court, for his bail. Lawyers for Vasupal said the money will not go to the complainant (Jigsaw) until the case is complete. In order to pacify the counsellers, the judge issued a conditional bail for Vasupal.
Vasupal had posted two blog posts, one making a fervent plea for help and other asserting that he had no intentions to cheat as made out by Jigsaw.