Stayzilla founder Yogendra Vasupal files fresh bail petition in Madras High Court
CHENNAI: A fresh bail petition has been filed by Yogendra Vasupal, co-founder of hotel and home-stay aggregator Stayzilla, in the Madras High Court.
Two bail applications of Vasupal, who has been in Chennai's Puzhal prison since March 14, had been rejected in the past. The first bail petition was filed with the Special Court for CCB-CBCID in Egmore, while the 2nd was file with the Principal Sessions court.
"The bail petition with the Madras High Court has been numbered," a counsellor for Vasupal told ET .
Vasupal was arrested after a case of cheating was filed by a Chennai based advertising services vendor, Jigsaw Solutions. Jigsaw alleges that Stayzilla owes it nearly Rs 1.7 crore, which Stayzilla disputed, stating grounds of deficiency in services.
The Central Crime Branch had filed an FIR under sections 420, 406, and 506(i) under the IPC, following which the arrest was made on Chennai IT corridor, Old Mahabalipuram Road.
Vasupal had put out an online post revealing intimidation on phone and through mails that, he alleged, had come from the vendor. Another post a few days after his arrest sought to clear the air on related party transactions at Stayzilla that the vendor had alleged were evidence of financial irregularities.
Vasupal's arrest in Chennai last month had shocked the technology start-up community with several well-known entrepreneurs expressing outrage over the manner of the arrest.
Jigsaw had countered claims of damage to the image of start-up community with the argument that the case of Stayzilla would not rattle the ecosystem: "If Stayzilla had not defaulted and had not pulled down its shutters there would be no case at all - that is the bigger picture," Jigsaw had said in a written statement earlier.
The bail petition of Vasupal, third so far, could be taken up for hearing by Madras High Court tomorrow .
Two bail applications of Vasupal, who has been in Chennai's Puzhal prison since March 14, had been rejected in the past. The first bail petition was filed with the Special Court for CCB-CBCID in Egmore, while the 2nd was file with the Principal Sessions court.
"The bail petition with the Madras High Court has been numbered," a counsellor for Vasupal told ET .
Vasupal was arrested after a case of cheating was filed by a Chennai based advertising services vendor, Jigsaw Solutions. Jigsaw alleges that Stayzilla owes it nearly Rs 1.7 crore, which Stayzilla disputed, stating grounds of deficiency in services.
The Central Crime Branch had filed an FIR under sections 420, 406, and 506(i) under the IPC, following which the arrest was made on Chennai IT corridor, Old Mahabalipuram Road.
Vasupal had put out an online post revealing intimidation on phone and through mails that, he alleged, had come from the vendor. Another post a few days after his arrest sought to clear the air on related party transactions at Stayzilla that the vendor had alleged were evidence of financial irregularities.
Vasupal's arrest in Chennai last month had shocked the technology start-up community with several well-known entrepreneurs expressing outrage over the manner of the arrest.
Jigsaw had countered claims of damage to the image of start-up community with the argument that the case of Stayzilla would not rattle the ecosystem: "If Stayzilla had not defaulted and had not pulled down its shutters there would be no case at all - that is the bigger picture," Jigsaw had said in a written statement earlier.
The bail petition of Vasupal, third so far, could be taken up for hearing by Madras High Court tomorrow .
