<p>The Madras High Court today granted bail to start-up firm Stayzilla CEO Yogendra Vasupal nearly a month after he was arrested on charges of cheating.<br /><br />Justice S Bhaskaran granted bail to Vasaupal on a personal bond Rs 40 lakh.<br /><br />The Stayzilla CEO was arrested on March 14 on a complaint by city-based advertisement firm that it had been defrauded by the online home stay aggregator Stayzilla to the tune of Rs 1.69 crore.<br /><br />When the complainant firm Jigsaw Advertising and Solutions sought a direction for a mediated settlement to the issue, the judge said it was a clear case of business transaction between two entrepreneurs.<br /><br />He said it was for the parties to work out such a remedy.<br /><br />Earlier Vasupal's bail plea had been turned down twice, first by the special CB-CID court on March 23 and then by the principal sessions court here on March 28.<br /><br />The Central Crime Branch sleuths had arrested Vasupal on a complaint from C S Aditya of Jigsaw Advertising and Solutions and booked him on charges of criminal breach of trust, intimidation and cheating.<br /><br />It was alleged that Vasupal and his partner Sarjit Singhi had criminally intimidated the complainant when he demanded refund of the dues. <br /></p>
<p>The Madras High Court today granted bail to start-up firm Stayzilla CEO Yogendra Vasupal nearly a month after he was arrested on charges of cheating.<br /><br />Justice S Bhaskaran granted bail to Vasaupal on a personal bond Rs 40 lakh.<br /><br />The Stayzilla CEO was arrested on March 14 on a complaint by city-based advertisement firm that it had been defrauded by the online home stay aggregator Stayzilla to the tune of Rs 1.69 crore.<br /><br />When the complainant firm Jigsaw Advertising and Solutions sought a direction for a mediated settlement to the issue, the judge said it was a clear case of business transaction between two entrepreneurs.<br /><br />He said it was for the parties to work out such a remedy.<br /><br />Earlier Vasupal's bail plea had been turned down twice, first by the special CB-CID court on March 23 and then by the principal sessions court here on March 28.<br /><br />The Central Crime Branch sleuths had arrested Vasupal on a complaint from C S Aditya of Jigsaw Advertising and Solutions and booked him on charges of criminal breach of trust, intimidation and cheating.<br /><br />It was alleged that Vasupal and his partner Sarjit Singhi had criminally intimidated the complainant when he demanded refund of the dues. <br /></p>