StayZilla founder Yogendra Vasupal's bail plea dismissed

CHENNAI: StayZilla founder Yogendra Vasupal was denied bail today by the Special Metropolitan Magistrate court for CCB-CBCID cases after nine days of judicial custody in an alleged case of cheating an offline marketing vendor.

Vasupal, 34, had announced suspension of operations at StayZilla with a promise of reboot, a development that forced Jigsaw Solutions, an offline marketer, to file a case under Sections 420, 406, and 506(I) of the IPC.

The startup community including founders of large startups in Bengaluru to unicorns in Chennai are rallying in support of Vasupal.

"Since a police custody application is pending, bail cannot be given at this moment," judge MM Kabir said in court before denying bail.

Aditya CS sales and marketing head of Jigsaw Solutions, who had filed an intervening application against Vasupal's bail plea yesterday, had contended that Vasupal and Sachit Singhi, the second accused in the FIR, were responsible for managing the affairs of the company. He countered Vasupal's submissions that the company was managed and controlled by Investors in Mumbai in his bail plea.

Counsellors for Vasupal said the next course of action is being deliberated.