Stayzilla CEO Yogendra Vasupal arrested for fraud; asks for ‘help’

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Bengaluru | Updated: March 15, 2017 9:55:30 PM

Vasupal wrote that the police had come to his house and told him that there was a case against him by somebody from Chennai for cheating and intimidation.

Yogendra Vasupal, Yogendra Vasupal arrested, Stayzilla, Stayzilla founder arrested, Stayzilla founder, Stayzilla founder Yogendra Vasupal, vasupal arrestedYogendra Vasupal has reportedly been arrested for a fraud of Rs 1.7 Crore. (Source: Twitter)

Homestay and decor aggregator and co-founder of start-up Stayzilla, Yogendra Vasupal was arrested on Tuesday night in connection with an alleged case of fraud filed by a media agency, which says he owes them Rs 1.72 crore. Vasupal has refuted all the allegations. He wrote a blog before leaving for the magistrate’s hearing with the title, ‘Help! I need everybody….’

Vasupal wrote that the police had come to his house and told him that there was a case against him by somebody from Chennai for cheating, intimidation and etc. “I recognized the name of the complainant and informed them that there was a dispute between 2 companies and we had asked the other company to take it up in the court,” he wrote.

According to Vasupal he was threatened by unknown people and his colleague Sachit Singhi was also threatened, and he told this to the police. His wife, Rupa, had also written a blog on Wednesday saying, “His whereabouts from when the cops took him into custody today from 11.am to 6.00pm were not known and the lawyer and our family had to go from one station to another looking for him’. An advertising agency, Jigsaw advertising has alleged that Stayzilla owes them over Rs 1.72 crore. Whereas, according to Vasupal it is not a monetary debt but a ‘deficiency of services’ and the matter should be taken to court if need be.

Here’s his blog:

In February Stayzilla had closed its operations saying that they were looking at a new revenue model. It went from 600 to 200 people while adding over 8000 homestays across India.

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