Order on Stayzilla CEO Vasupal's bail reserved
CHENNAI: The Special Metropolitan Magistrate Court for CCB-CBCID cases in Egmore, Chennai reserved the order on the bail plea of Stayzilla founder Yogendra Vasupal on Wednesday.
It orally observed that the order could be out tomorrow, "most probably", after hearing arguments on behalf of Vasupal and his vendor Jigsaw Solutions represented by its operations manager Aditya CS, who had filed an intervening application against the bail.
"The arguments need to be looked into. The order will be pronounced at the convenience of the court, most probably tomorrow," it said. The startup community, which has been lobbying for Vasupal's release from detention, was encouraged by the developments in the court.
"It is heartening to know that the judge had taken cognisance of the hasty methods adopted by the police," said R Narayanan, president, The Indus Entrepreneurs, referring to some of the observations made in the court.
Aditya contended that Vasupal, and cofounder Sachit Singhi, who has been named 'Accused II' in the FIR, were responsible as they were directly managing the affairs of the company.
In the bail plea accessed by ET, Vasupal submitted he has been "falsely implicated" in a civil dispute between two firms. "The petitioner was one of the employee director of Inasra Technologies, which is controlled and managed by investors based in Mumbai."
It orally observed that the order could be out tomorrow, "most probably", after hearing arguments on behalf of Vasupal and his vendor Jigsaw Solutions represented by its operations manager Aditya CS, who had filed an intervening application against the bail.
"The arguments need to be looked into. The order will be pronounced at the convenience of the court, most probably tomorrow," it said. The startup community, which has been lobbying for Vasupal's release from detention, was encouraged by the developments in the court.
"It is heartening to know that the judge had taken cognisance of the hasty methods adopted by the police," said R Narayanan, president, The Indus Entrepreneurs, referring to some of the observations made in the court.
Aditya contended that Vasupal, and cofounder Sachit Singhi, who has been named 'Accused II' in the FIR, were responsible as they were directly managing the affairs of the company.
In the bail plea accessed by ET, Vasupal submitted he has been "falsely implicated" in a civil dispute between two firms. "The petitioner was one of the employee director of Inasra Technologies, which is controlled and managed by investors based in Mumbai."
