Madras High Court grants bail to Stayzilla co-founder Yogendra Vasupal

The Madras High court on Tuesday granted bail to Stayzilla founder Yogendra Vasupal. The court asked Vasupal to deposit Rs 40 lakh to establish bonafide intentions. Judge S Bhaskaran termed the case 'purely a dispute between two businessmen' as he granted bail to Vasupal. The founder of Stayzilla has been granted a week's time to make the deposit.

Multiple bail petitions filed by Vasupal post his arrest on March 13 had been rejected. Cases under Section 420, 406, and 506(I) were filed against Vasupal after Jigsaw solutions had lodged a complaint of dues worth Rs 1.69 crore owed by StayZilla for a period between March and May 2016.

The court asked for Rs 40 lakh to be deposited after counsellors for Jigsaw raised questions over Vasupal's intentions to settle dues.

OneIndia News