Stayzilla’s Yogi gets the bail !

That brings an end to a sad and horrific saga for the family.
Madras HC has granted conditional bail to Yogi (he will have to pay Rs. 40 lakhs as deposit).
1. Court refused to order mediation as requested by Jigsaw and clearly said it’s a business transaction dispute between two companies
2. The court reference of business transaction dispute validates that it’s civil case and not criminal case
3. The bail surety and bond will be provided to showcase that the intent on Yogi #stayzilla side that there is no fraud or company has assets and is in business.
4. This conditional bail news is planted, except surety bond for bail there are no conditions. The so called conditional bail is applicable and are given when court says surrender your passport, report to police everyday for investigation, you cannot be in Chennai or Leave BLR etc kind of stuff which is not the case for Yogi.
5. In the court, judge said it’s a business transaction dispute and he won’t pass any mediation order as civil disputes should be left to parties. More details in the court bail order that will be given tomorrow.
6. Yogi will be released after all formalities to be completed by tomorrow
Do watch Yogi’s talk about his startup journey.

Join 2 million subscribers

A curated newsletter that summarizes the important news at the intersection of Global tech, India Tech and AI.

Delivered 8 AM. Daily.