Two days after the Madras High Court granted bail to online home stay aggregator Stayzilla's co-founder Yogendra Vasupal, on the condition that he deposit ₹40 lakh in the court, his partner and co-promoter Sachit Singhi has moved an anticipatory bail petition on Thursday in the district sessions court.
The principal sessions judge Nazeema Banu ordered notice to the city public prosecutor and adjourned the application to April 18 for further hearing.
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.
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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. Mr. Singhi, who is the second accused in the case, has been absconding since the arrest of Mr. Vasupal.
