In a huge relief to Stayzilla co-founder Yogendra Vasupal, the Madras High Court today granted him conditional bail against a bond of ₹40 lakhs. He has one week to submit the amount to the court.
The Economic Times reported that the prosecutor, Jigsaw Media, now wants to settle the matter out of court, but Vasupal's council is not ready for that. Judge S Baskaran observed that this a dispute between two businessmen, before granting Vasupal bail.
Jigsaw's council insisted that Vasupal submit a deposit amount to ensure that the co-founder intended to settle a disputed payment to the firm. The company had filed a case against Stayzilla on the basis of the pending payment of ₹1.69 crores.
The Chennai police had arrested Vasupal on 14 March under IPC section 420, 406, and 506(I). The next day a pre-typed blog surfaced, outlining alleged harassment the Stayzilla founders faced. Earlier, the Chennai sessions court had denied bail to Vasupal.