Jailed Stayzilla CEO Yogendra Vasupal moves Madras High Court for bail

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Chennai | Published: April 6, 2017 4:32:47 AM

After two unsuccessful attempts in the lower courts, Yogendra Vasupal, the jailed co-founder of home stay aggregator StayZilla, has moved the Madras High Court for bail in the alleged cheating case filed by a Chennai-based advertising agency.

Vasupal’s earlier two bail applications were rejected by the lower courts and he has been jailed since his arrest on March 14. (PTI)

After two unsuccessful attempts in the lower courts, Yogendra Vasupal, the jailed co-founder of home stay aggregator StayZilla, has moved the Madras High Court for bail in the alleged cheating case filed by a Chennai-based advertising agency.

Vasupal’s earlier two bail applications were rejected by the lower courts and he has been jailed since his arrest on March 14.

The police arrested Vasupal on March 14, based on a complaint file by CS Aditya of Jigsaw Advertising and Solutions for offences under Sections 406 (Punishment for criminal breach of trust), 420 (Cheating) and 506 (i) (Criminal Intimidation) of the IPC.

According to the complainant, Stayzilla had failed to make payments for advertising services rendered by him since February 2016 and has defrauded to the tune of R1.7 crore.

A principal sessions court judge had on March 28 dismissed the bail appeal moved by Vasupal while the court also rejected the anticipatory bail moved by second accused Sachit Singh. Vasupal had then approached the principal sessions court, with an appeal for bail, that dismissed his earlier bail plea. The special metropolitan magistrate on March 23 had dismissed Vasupal’s bail application chiefly on the grounds that prima facie charges against the petitioner cannot be ruled out.

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