Stayzilla's Yogendra Vasupal gets conditional bail

April 11, 2017 03:49 pm | Updated 05:02 pm IST - Chennai

Stayzilla CEO Yogendra Vasupal. File photo

Stayzilla CEO Yogendra Vasupal. File photo

Twenty-eight days after being arrested on a complaint of cheating a Chennai-based ad agency, Yogendra Vasupal, co-founder of Chennai based homestay start-up Stayzilla, was on Tuesday granted conditional bail by the Madras High Court.

“The accused is granted bail on a condition to deposit ₹40 lakh to the account of the crime number in the Magistrate court,” Justice S. Baskaran said in his order.

On March 14, Mr. Vasupal was arrested based on a complaint from C.S. Aditya of Jigsaw Advertising and Solutions Private Limited for offences under Sections 406 (Punishment for criminal breach of trust), 420 (Cheating), 506 (i) (Criminal Intimidation) of the IPC.

According to the complainant, Stayzilla failed to make payments for advertising services rendered by him since February 2016 and defrauded him of ₹1.69 crore.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.