Stayzilla founder Yogendra Vasupal arrested on fraud charges of Rs 1.7 crore

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New Delhi | Updated: March 15, 2017 11:30:12 AM

Yogendra Vasupal, the Founder and Chief Executive of the now shuttered hotel room aggregator Stayzilla was arrested on Wednesday morning by Chennai police commissioner on the charges of fraud.

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)

Yogendra Vasupal, the Founder and Chief Executive of the now shuttered hotel room aggregator Stayzilla was arrested on Wednesday morning by Chennai police commissioner on the charges of fraud. The action was taken after advertising firm Jigsaw Advertising slapped Stayzilla over pending dues of Rs 1.7 crore. According to moneycontrol.com, he has been taken to the Puzhal Central Prison. Vasupal’s wife Rupal Yogendra confirmed the news and told that he was taken to the magistrate around 10 pm.

Stayzilla was under crisis for some time now and matters became worse when an emergency email by a co-founder Sachit Singhi to investors Nexus Venture Partners and Matrix Partners went viral on social media. Afte this, Singhi revealed that he started getting death threats. Even a blog post written Vasupal stated that scary dolls were sent to Singhi’s home on 9th March.

Watch the video posted by Yogendra Vasupal:

There was another video on YouTube that sparked controversy. In this video, a man was seen assaulting one of Stayzilla’s staff. This incident happened when Stayzilla informed the landlord that they will be shutting down the rented office. Speaking about the problems with Jigsaw Advertising, Vasupal said the company had already paid it about Rs 6.5 crore.

Another Indian start-up founder, Arunabh Kumar has found himself in middle of controversies in last few days. Arunabh who started the online video channel ‘The Viral Fever’ was accused of workplace harassment and molestation by multiple women out of whom one claimed to be an ex-employee of TVF. Arunabh Kumar is believed to the man who changed the scene of online webs-series in India with his successful shows like TV Pitchers, Permanent Roommates and Tripling. However, the TVF team has called all these allegations baseless and has come out in support of their boss.

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